APi Group Corporation $APG Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of APi Group Corporation (NYSE:APG) by 31.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 73,217 shares of the company’s stock after buying an additional 17,639 shares during the quarter. Pacer Advisors Inc.’s holdings in APi Group were worth $2,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in APi Group during the 4th quarter valued at about $27,000. Parallel Advisors LLC increased its holdings in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after purchasing an additional 297 shares during the period. Silicon Valley Capital Partners raised its stake in shares of APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

APi Group Price Performance

Shares of APi Group stock opened at $41.26 on Friday. The firm has a market cap of $17.83 billion, a PE ratio of -61.59, a P/E/G ratio of 2.43 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. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $41.26 and a 200 day moving average price of $42.66.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. APi Group’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts predict that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

APi Group News Roundup

Here are the key news stories impacting APi Group this week:

• Positive Sentiment: Wells Fargo initiated coverage with an “overweight” rating and a $53 price target, implying roughly 27% upside from the referenced share price. The new analyst coverage adds a favorable Wall Street view and is the clearest near-term catalyst. APi Group rated overweight in new Wells Fargo research coverage
• Positive Sentiment: APi Group’s latest quarterly results exceeded expectations, with earnings per share of $0.44 versus $0.43 expected and revenue of $2.25 billion versus $2.20 billion estimated. Revenue grew 13.3% year over year, while analysts expect approximately $1.72 in full-year EPS, supporting the growth case.
• Neutral Sentiment: Director Ian Ashken sold a combined 300,000 shares for about $12.0 million, but retained more than 9.17 million shares. The transactions were executed under a pre-arranged Rule 10b5-1 plan, making them a less reliable indicator of discretionary bearish sentiment. SEC filing for Ian Ashken stock sales
• Negative Sentiment: Director James Lillie sold 360,000 shares worth approximately $14.3 million. Although these sales also followed a 10b5-1 plan and he continues to own substantial APi Group stock, their size could raise short-term concerns about insider conviction and add selling pressure. SEC filing for James Lillie stock sales

Wall Street Analysts Forecast Growth

APG has been the topic of a number of recent research reports. Barclays reiterated 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. Weiss Ratings cut shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Robert W. Baird set a $47.00 price objective on shares of APi Group in a report on Friday, July 31st. Wall Street Zen lowered shares of APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company started coverage on shares of APi Group in a report on Tuesday. They set an “overweight” rating and a $53.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

Insider Activity at APi Group

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Lillie sold 285,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $39.84, for a total transaction of $11,354,400.00. Following the transaction, the director owned 8,952,350 shares of the company’s stock, valued at approximately $356,661,624. This trade represents a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,667,000 shares of company stock worth $110,810,972 in the last quarter. 18.70% of the stock is owned by 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.