Aristotle Atlantic Partners LLC Buys New Stake in APi Group Corporation $APG

Aristotle Atlantic Partners LLC bought a new stake in shares of APi Group Corporation (NYSE:APG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 474,756 shares of the company’s stock, valued at approximately $18,164,000.

A number of other hedge funds also recently made changes to their positions in APG. Vanguard Group Inc. lifted its position in shares of APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after purchasing an additional 11,644,990 shares during the last quarter. Congress Asset Management Co. bought a new position in APi Group during the 4th quarter worth $49,665,000. TD Asset Management Inc grew its stake in APi Group by 40.0% during the 3rd quarter. TD Asset Management Inc now owns 218,116 shares of the company’s stock worth $7,497,000 after buying an additional 62,322 shares during the last quarter. Rathbones Group PLC boosted its position in shares of APi Group by 215.7% during the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock worth $8,108,000 after buying an additional 144,789 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of APi Group by 197.8% during the third quarter. HighTower Advisors LLC now owns 47,472 shares of the company’s stock worth $1,632,000 after buying an additional 31,532 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APG shares. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada boosted their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Truist Financial set a $55.00 price target on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Robert W. Baird set a $52.00 price target on shares of APi Group in a research report on Friday, May 1st. Finally, Barclays restated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group Price Performance

NYSE:APG opened at $41.86 on Thursday. The business’s 50-day moving average price is $43.98 and its 200 day moving average price is $42.37. The firm has a market cap of $18.13 billion, a P/E ratio of -58.95, a PEG ratio of 2.49 and a beta of 1.60. APi Group Corporation has a 52-week low of $31.95 and a 52-week high of $49.99. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts predict that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director directly owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the director directly owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,444,000 shares of company stock valued at $148,897,645 over the last three months. Company insiders own 18.70% of the company’s stock.

APi Group 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.