Van Berkom & Associates Inc. Reduces Stock Position in APi Group Corporation $APG

Van Berkom & Associates Inc. lessened its position in shares of APi Group Corporation (NYSE:APG) by 96.8% during the 4th quarter, Holdings Channel reports. The firm owned 43,877 shares of the company’s stock after selling 1,322,898 shares during the quarter. Van Berkom & Associates Inc.’s holdings in APi Group were worth $1,679,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in APG. Vanguard Group Inc. grew its stake in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP grew its stake in APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the last quarter. State Street Corp grew its stake in APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the last quarter. Invesco Ltd. grew its stake in APi Group by 224.6% during the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in APi Group by 86.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,430,657 shares of the company’s stock valued at $207,798,000 after purchasing an additional 2,511,993 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 114,409 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the completion of the transaction, the director owned 10,633,830 shares of the company’s stock, valued at $458,530,749.60. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were 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 of the company’s stock, valued at $868,308,614.88. The trade was a 12.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,682,000 shares of company stock valued at $152,333,385. 18.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

APG has been the subject of several analyst reports. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial set a $55.00 price objective on APi Group and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada boosted their price objective on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. UBS Group boosted their price objective on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup reissued a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.86.

APi Group Stock Performance

NYSE APG opened at $44.63 on Tuesday. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of -62.86, a PEG ratio of 2.72 and a beta of 1.67. APi Group Corporation has a twelve month low of $27.97 and a twelve month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $43.69 and a 200 day moving average of $40.94.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. Sell-side analysts anticipate that APi Group Corporation will post 1.69 EPS for the current fiscal 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.