HighVista Strategies LLC Grows Holdings in APi Group Corporation $APG

HighVista Strategies LLC boosted its position in APi Group Corporation (NYSE:APG) by 88.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,350 shares of the company’s stock after acquiring 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 SEC filing.

Several other large investors also recently modified their holdings of APG. Clearstead Advisors LLC increased its position in shares of APi Group by 105.7% during the third 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. Parallel Advisors LLC grew its stake in APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after purchasing an additional 297 shares in the last quarter. Bares Capital Management Inc. acquired a new stake in APi Group during the 2nd quarter valued at approximately $30,000. Steigerwald Gordon & Koch Inc. purchased a new stake in APi Group during the 3rd quarter worth approximately $31,000. Finally, Root Financial Partners LLC purchased a new stake in APi Group during the 3rd quarter worth approximately $32,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other APi Group news, Director James E. Lillie sold 100,888 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $44.30, for a total value of $4,469,338.40. Following the sale, the director directly owned 9,706,462 shares in the company, valued at approximately $429,996,266.60. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Louis Lambert sold 22,000 shares of the company’s stock in a transaction dated 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 owned 16,148 shares of the company’s stock, valued at $721,977.08. This represents a 57.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 682,000 shares of company stock worth $29,693,385 in the last three months. 17.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on APG. Royal Bank Of Canada increased their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Citigroup raised their price objective on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Barclays boosted their target price on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.57.

APi Group Price Performance

Shares of NYSE:APG opened at $39.89 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The firm has a 50-day simple moving average of $42.86 and a 200 day simple moving average of $38.76. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.89. The company has a market cap of $17.21 billion, a PE ratio of -52.72, a P/E/G ratio of 2.38 and a beta of 1.69.

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. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. APi Group had a return on equity of 37.92% and a net margin of 3.70%.APi Group’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, sell-side analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

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.