Rathbones Group PLC Grows Holdings in APi Group Corporation $APG

Rathbones Group PLC boosted its holdings in APi Group Corporation (NYSE:APG) by 215.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,909 shares of the company’s stock after purchasing an additional 144,789 shares during the quarter. Rathbones Group PLC’s holdings in APi Group were worth $8,108,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in APi Group by 49.6% in 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 raised its position in APi Group by 40.2% in 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. Viking Global Investors LP increased its stake in APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after buying an additional 768,759 shares during the period. State Street Corp increased its stake in APi Group by 50.6% in the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after buying an additional 3,620,931 shares during the period. Finally, Findlay Park Partners LLP increased its stake in APi Group by 13.1% in the 3rd quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock valued at $259,152,000 after buying an additional 873,420 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Citigroup boosted their price objective on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Barclays boosted their price objective on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.57.

Insider Transactions at APi Group

In other news, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the transaction, the director directly owned 10,633,830 shares of the company’s stock, valued at $458,530,749.60. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the sale, the director directly owned 21,240,426 shares in the company, valued at approximately $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 have sold a total of 3,682,000 shares of company stock valued at $152,333,385 in the last ninety days. 17.00% of the stock is currently owned by company insiders.

APi Group Stock Performance

Shares of APG opened at $42.20 on Tuesday. 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 Corporation has a 1 year low of $20.50 and a 1 year high of $46.89. The stock has a market capitalization of $18.21 billion, a P/E ratio of -55.77, a P/E/G ratio of 2.51 and a beta of 1.68. The company’s fifty day moving average is $42.60 and its two-hundred day moving average is $39.43.

APi Group (NYSE:APG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that APi Group Corporation will post 1.83 earnings per share for the current year.

APi Group Company 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.