APi Group Corporation $APG Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its holdings in shares of APi Group Corporation (NYSE:APG) by 59.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,721 shares of the company’s stock after acquiring an additional 42,111 shares during the period. Bridges Investment Management Inc.’s holdings in APi Group were worth $3,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bares Capital Management Inc. acquired a new position in APi Group during the 2nd quarter worth $30,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of APi Group during the 3rd quarter worth $31,000. Root Financial Partners LLC purchased a new position in APi Group in the 3rd quarter worth about $32,000. Cullen Frost Bankers Inc. raised its holdings in shares of APi Group by 2,620.0% during the third quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock valued at $37,000 after acquiring an additional 1,048 shares during the period. Finally, Whittier Trust Co. lifted its holdings in shares of APi Group by 49.9% in the third quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity at APi Group

In other news, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the transaction, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anthony E. Malkin purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. The trade was a 75.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 7,000 shares of company stock worth $275,720 in the last 90 days. 17.00% of the stock is currently owned by company insiders.

APi Group Price Performance

Shares of NYSE APG opened at $41.56 on Monday. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $43.75. The stock’s 50 day moving average price is $40.19 and its 200-day moving average price is $37.00. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $17.29 billion, a PE ratio of 113.35 and a beta of 1.70.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APG. Citigroup reiterated a “buy” rating and issued a $49.00 price objective (up from $45.00) on shares of APi Group in a report on Monday, January 12th. UBS Group set a $49.00 price objective on APi Group and gave the stock a “buy” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Finally, Truist Financial upped their target price on shares of APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

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.