APi Group Corporation $APG is GW&K Investment Management LLC’s 9th Largest Position

GW&K Investment Management LLC reduced its stake in shares of APi Group Corporation (NYSE:APG) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,172,670 shares of the company’s stock after selling 99,102 shares during the quarter. APi Group makes up 1.0% of GW&K Investment Management LLC’s holdings, making the stock its 9th largest position. GW&K Investment Management LLC’s holdings in APi Group were worth $121,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of APi Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock worth $3,772,000 after purchasing an additional 277 shares during the last quarter. Silicon Valley Capital Partners lifted its stake in shares of APi Group by 50.0% during the 3rd 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. Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of APi Group by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company’s stock worth $3,169,000 after purchasing an additional 314 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of APi Group by 4.7% during the 4th quarter. Wedmont Private Capital now owns 7,655 shares of the company’s stock worth $314,000 after purchasing an additional 343 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. This trade represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the transaction, the director owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. This trade represents a 2.37% 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 4,444,000 shares of company stock worth $187,377,645 in the last 90 days. Insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. UBS Group increased their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and a consensus price target of $52.14.

APi Group Trading Up 3.6%

NYSE APG opened at $43.70 on Wednesday. The company has a fifty day simple moving average of $43.89 and a two-hundred day simple moving average of $42.20. The stock 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. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

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

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.