HighVista Strategies LLC Boosts Stock Position in APi Group Corporation $APG

HighVista Strategies LLC boosted its position in APi Group Corporation (NYSE:APG) by 88.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,350 shares of the company’s stock after purchasing an additional 22,200 shares during the quarter. HighVista Strategies LLC’s holdings in APi Group were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APG. Clearstead Advisors LLC boosted its stake in shares of APi Group by 105.7% during the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares during the period. Bares Capital Management Inc. acquired a new stake in APi Group during the second quarter worth approximately $30,000. Steigerwald Gordon & Koch Inc. purchased a new stake in APi Group in the 3rd quarter worth approximately $31,000. Finally, Root Financial Partners LLC acquired a new position in APi Group in the 3rd quarter valued at $32,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at APi Group

In related news, SVP Louis Lambert sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total transaction of $983,620.00. Following the transaction, the senior vice president directly owned 16,148 shares of the company’s stock, valued at approximately $721,977.08. The trade was a 57.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 72,546 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,115,125.24. Following the completion of the transaction, the director owned 10,561,284 shares of the company’s stock, valued at approximately $453,501,534.96. This represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 682,000 shares of company stock valued at $29,693,385 over the last quarter. Company insiders own 17.00% of the company’s stock.

APi Group Price Performance

APG opened at $39.89 on Monday. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.89. The company has a 50 day moving average of $42.86 and a two-hundred day moving average of $38.76. The company has a market cap of $17.21 billion, a P/E ratio of -52.72, a P/E/G ratio of 2.38 and a beta of 1.69. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

APi Group (NYSE:APG) last issued its earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APG shares. Citigroup raised their price objective on APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. UBS Group increased their target price on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. CJS Securities upgraded APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Barclays increased their price objective on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Truist Financial raised their target price on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.