Fisher Asset Management LLC Lowers Stock Position in APi Group Corporation $APG

Fisher Asset Management LLC trimmed its stake in APi Group Corporation (NYSE:APG) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,668,199 shares of the company’s stock after selling 68,778 shares during the period. Fisher Asset Management LLC’s holdings in APi Group were worth $63,825,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in shares of APi Group in the 4th quarter valued at approximately $27,000. Clearstead Advisors LLC raised its stake in shares of APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after acquiring an additional 427 shares during the period. Silicon Valley Capital Partners raised its stake in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC raised its stake in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC raised its stake in shares of APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after acquiring an additional 736 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total value 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. The trade was a 12.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction 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 represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,126,000 shares of company stock worth $217,071,030 over the last 90 days. 18.70% of the stock is owned by insiders.

APi Group Stock Up 0.0%

Shares of APi Group stock opened at $41.65 on Tuesday. APi Group Corporation has a 52-week low of $30.00 and a 52-week high of $49.99. The company has a 50 day moving average of $43.69 and a 200 day moving average of $41.83. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $18.04 billion, a P/E ratio of -58.66, a P/E/G ratio of 2.45 and a beta of 1.67.

APi Group (NYSE:APG) last issued 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. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that APi Group Corporation will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APG. UBS Group boosted their price target on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Truist Financial set a $55.00 price target on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Citigroup reissued a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.14.

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.