Fisher Asset Management LLC Raises Holdings in APi Group Corporation $APG

Fisher Asset Management LLC increased its position in APi Group Corporation (NYSE:APG) by 61.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,736,977 shares of the company’s stock after buying an additional 658,723 shares during the period. Fisher Asset Management LLC owned 0.42% of APi Group worth $59,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its stake in APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after acquiring an additional 427 shares during the last quarter. Bares Capital Management Inc. bought a new position in shares of APi Group during the 2nd quarter valued at approximately $30,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of APi Group in the third quarter valued at $31,000. Root Financial Partners LLC purchased a new position in shares of APi Group in the third quarter valued at $32,000. Finally, Cullen Frost Bankers Inc. increased its position in APi Group by 2,620.0% in the third quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock worth $37,000 after purchasing an additional 1,048 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

Insider Buying and Selling at APi Group

In other news, SVP Louis Lambert sold 22,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $44.71, for a total transaction of $983,620.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony E. Malkin purchased 3,000 shares of APi Group stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the purchase, the director directly owned 7,000 shares in the company, valued at $277,060. This trade represents a 75.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 17.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. UBS Group increased their price target on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada lifted their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, Truist Financial boosted their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.57.

APi Group Price Performance

APG stock opened at $44.55 on Tuesday. The stock has a market cap of $19.22 billion, a PE ratio of -58.88 and a beta of 1.69. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.89. The company has a 50-day moving average price of $42.35 and a 200 day moving average price of $38.37. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81.

APi Group (NYSE:APG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping 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 company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current year.

About APi Group

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.