Gibbs Wealth Management Purchases Shares of 13,681 APi Group Corporation $APG

Gibbs Wealth Management acquired a new stake in APi Group Corporation (NYSE:APG) during the 1st quarter, Holdings Channel reports. The fund acquired 13,681 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds also recently made changes to their positions in the business. Sound Income Strategies LLC acquired a new position in shares of APi Group during the 4th quarter worth approximately $27,000. Silicon Valley Capital Partners grew its position 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 worth $29,000 after purchasing an additional 286 shares in the last quarter. Parallel Advisors LLC increased its stake in APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 297 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after acquiring an additional 736 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of research reports. Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Barclays reaffirmed an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. UBS Group set a $52.00 price objective on APi Group in a report on Monday, July 20th. Robert W. Baird set a $52.00 target price on shares of APi Group in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.17.

Insider Activity

In related news, Director James E. Lillie sold 59,461 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the transaction, the director owned 9,237,350 shares of the company’s stock, valued at $420,299,425. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. Company insiders own 18.70% of the company’s stock.

APi Group Stock Performance

NYSE:APG opened at $39.58 on Friday. The business’s 50-day moving average price is $41.55 and its two-hundred day moving average price is $42.76. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The stock has a market cap of $17.15 billion, a P/E ratio of -55.74, a PEG ratio of 2.31 and a beta of 1.60. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99.

APi Group (NYSE:APG) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. As a group, equities analysts predict that APi Group Corporation will post 1.71 EPS for the current fiscal 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.