Thematics Asset Management Acquires 204,027 Shares of APi Group Corporation $APG

Thematics Asset Management raised its holdings in shares of APi Group Corporation (NYSE:APG) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 744,569 shares of the company’s stock after acquiring an additional 204,027 shares during the quarter. APi Group makes up 1.2% of Thematics Asset Management’s portfolio, making the stock its 29th largest holding. Thematics Asset Management owned 0.18% of APi Group worth $25,591,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bares Capital Management Inc. bought a new position in APi Group in the 2nd quarter worth $30,000. Clearstead Advisors LLC grew its holdings in APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the period. Parallel Advisors LLC increased its position in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in APi Group in the third quarter worth about $31,000. Finally, Root Financial Partners LLC bought a new position in shares of APi Group in the third quarter worth about $32,000. Institutional investors own 86.62% of the company’s stock.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 72,546 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,115,125.24. Following the sale, the director directly owned 10,561,284 shares in the company, valued at approximately $453,501,534.96. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the transaction, the director directly owned 9,522,350 shares of the company’s stock, valued at approximately $408,889,709. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 682,000 shares of company stock valued at $29,693,385. 17.00% of the stock is currently owned by insiders.

APi Group Stock Performance

APG opened at $39.89 on Friday. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of -52.72, a PEG ratio of 2.43 and a beta of 1.69. The company has a fifty day moving average of $42.86 and a 200 day moving average of $38.72. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50.

APi Group (NYSE:APG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APG has been the topic of a number of analyst reports. Barclays lifted their price objective on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Truist Financial lifted their price target on shares of APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Citigroup upped their price target on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.57.

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.