Intech Investment Management LLC Takes $783,000 Position in APi Group Corporation $APG

Intech Investment Management LLC acquired a new stake in APi Group Corporation (NYSE:APG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,464 shares of the company’s stock, valued at approximately $783,000.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of APi Group by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock valued at $277,465,000 after purchasing an additional 624,529 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of APi Group by 107.0% in the 4th quarter. Clearstead Advisors LLC now owns 1,720 shares of the company’s stock valued at $66,000 after purchasing an additional 889 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of APi Group by 628.7% in the 4th quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company’s stock valued at $6,658,000 after purchasing an additional 150,139 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of APi Group by 14.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,437 shares of the company’s stock valued at $514,000 after purchasing an additional 1,689 shares during the last quarter. Finally, MJP Associates Inc. ADV bought a new stake in shares of APi Group in the 4th quarter valued at approximately $200,000. 86.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This trade represents a 12.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the transaction, the director owned 9,296,811 shares in the company, valued at $417,147,909.57. This represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,444,000 shares of company stock worth $187,377,645 in the last ninety days. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APG shares. Citigroup reaffirmed a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Barclays reiterated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. One equities research 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 stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and an average price target of $52.14.

APi Group Trading Up 0.5%

APG opened at $42.21 on Tuesday. The stock’s fifty day moving average is $43.81 and its two-hundred day moving average is $42.16. The company has a market capitalization of $18.28 billion, a P/E ratio of -59.44, a PEG ratio of 2.47 and a beta of 1.60. APi Group Corporation has a 52 week low of $31.40 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 quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. Analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current year.

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.