Pelham Capital Ltd. Grows Stock Holdings in APi Group Corporation $APG

Pelham Capital Ltd. lifted its stake in shares of APi Group Corporation (NYSE:APG) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 481,296 shares of the company’s stock after purchasing an additional 91,160 shares during the quarter. APi Group accounts for about 9.8% of Pelham Capital Ltd.’s portfolio, making the stock its 4th largest position. Pelham Capital Ltd.’s holdings in APi Group were worth $18,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in APG. Vanguard Group Inc. grew its holdings in shares of 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. Norges Bank bought a new stake in shares of APi Group during the 4th quarter valued at approximately $181,066,000. Durable Capital Partners LP grew its holdings in shares of 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 holdings in shares of 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. Finally, Invesco Ltd. grew its holdings in shares of 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. 86.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on APG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a report on Tuesday, May 26th. Barclays reaffirmed an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, UBS Group lifted their target price on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.14.

Insider Buying and Selling

In other news, Director James E. Lillie sold 59,461 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total value of $2,705,475.50. Following the transaction, the director owned 9,237,350 shares in the company, valued at approximately $420,299,425. The trade was a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This trade represents a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,444,000 shares of company stock worth $187,377,645 in the last ninety days. Company insiders own 18.70% of the company’s stock.

APi Group Stock Up 0.3%

NYSE:APG opened at $42.38 on Friday. The firm’s 50 day simple moving average is $43.78 and its 200 day simple moving average is $42.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a one year low of $31.40 and a one year high of $49.99. The company has a market cap of $18.36 billion, a PE ratio of -59.69, a P/E/G ratio of 2.48 and a beta of 1.60.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned $0.37 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that APi Group Corporation will post 1.7 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.