Oarsman Capital Inc. Buys 228,488 Shares of APi Group Corporation $APG

Oarsman Capital Inc. raised its stake in shares of APi Group Corporation (NYSE:APG) by 1,267.9% during the second quarter, Holdings Channel reports. The firm owned 246,509 shares of the company’s stock after buying an additional 228,488 shares during the quarter. APi Group makes up approximately 0.8% of Oarsman Capital Inc.’s portfolio, making the stock its 16th biggest position. Oarsman Capital Inc.’s holdings in APi Group were worth $10,440,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its stake in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 286 shares in the last quarter. Parallel Advisors LLC raised its stake in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after buying an additional 736 shares during the period. Finally, IFP Advisors Inc lifted its holdings in APi Group by 146.7% in the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the period. 86.62% of the stock is currently owned by institutional investors.

APi Group Price Performance

Shares of APG opened at $39.70 on Monday. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The company has a market capitalization of $17.16 billion, a P/E ratio of -59.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. The firm has a 50 day moving average of $41.28 and a 200 day moving average of $42.62. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last issued its earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. As a group, equities research analysts anticipate that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James E. Lillie sold 285,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the sale, the director directly owned 8,952,350 shares of the company’s stock, valued at $356,661,624. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,667,000 shares of company stock valued at $110,810,972. 18.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APG shares. Citigroup reiterated a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wells Fargo & Company assumed coverage on APi Group in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $53.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, UBS Group set a $52.00 target price on shares of APi Group in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.57.

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.