GW&K Investment Management LLC Cuts Holdings in APi Group Corporation $APG

GW&K Investment Management LLC lowered its stake in shares of APi Group Corporation (NYSE:APG) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,172,670 shares of the company’s stock after selling 99,102 shares during the quarter. APi Group accounts for 1.0% of GW&K Investment Management LLC’s holdings, making the stock its 9th biggest holding. GW&K Investment Management LLC owned approximately 0.76% of APi Group worth $121,386,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in shares of APi Group during the 4th quarter valued at approximately $672,000. Cerity Partners LLC increased its position in shares of APi Group by 92.1% during the 4th quarter. Cerity Partners LLC now owns 219,399 shares of the company’s stock valued at $8,394,000 after purchasing an additional 105,178 shares during the last quarter. Capital World Investors increased its position in shares of APi Group by 6.8% during the 4th quarter. Capital World Investors now owns 1,688,205 shares of the company’s stock valued at $64,591,000 after purchasing an additional 107,328 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of APi Group during the 4th quarter valued at approximately $309,000. Finally, WINTON GROUP Ltd bought a new position in shares of APi Group during the 4th quarter valued at approximately $233,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APi Group stock opened at $43.70 on Wednesday. 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’s fifty day moving average price is $43.89 and its 200-day moving average price is $42.20. The firm has a market cap of $18.93 billion, a P/E ratio of -61.55, a P/E/G ratio of 2.48 and a beta of 1.60. APi Group Corporation has a 12 month low of $31.40 and a 12 month high of $49.99.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $1.98 billion during 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%.The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts expect that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APG shares. Barclays reaffirmed an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. UBS Group upped their price objective on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Truist Financial set a $55.00 price objective on APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. Robert W. Baird set a $52.00 price objective on APi Group in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 59,461 shares of APi Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total value of $2,705,475.50. Following the completion of the sale, the director directly owned 9,237,350 shares in the company, valued at $420,299,425. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction dated 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 completion of the sale, the director 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,444,000 shares of company stock worth $187,377,645 over the last three months. 18.70% of the stock is owned by corporate insiders.

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.