M.D. Sass LLC Buys 66,753 Shares of APi Group Corporation $APG

M.D. Sass LLC boosted its holdings in shares of APi Group Corporation (NYSE:APG) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,005,327 shares of the company’s stock after buying an additional 66,753 shares during the quarter. APi Group makes up approximately 6.0% of M.D. Sass LLC’s investment portfolio, making the stock its 5th largest position. M.D. Sass LLC owned approximately 0.48% of APi Group worth $76,724,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its position in APi Group by 47.4% during the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock worth $11,586,000 after buying an additional 108,433 shares during the last quarter. Envestnet Asset Management Inc. increased its position in APi Group by 48.6% during the third quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock worth $23,172,000 after buying an additional 220,551 shares during the last quarter. Bessemer Group Inc. increased its position in APi Group by 72.1% during the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after buying an additional 2,077,705 shares during the last quarter. Truist Financial Corp increased its position in APi Group by 29.5% during the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock worth $6,523,000 after buying an additional 43,202 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in APi Group by 36.3% during the third quarter. WCM Investment Management LLC now owns 152,041 shares of the company’s stock worth $5,213,000 after buying an additional 40,525 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a report on Tuesday, May 26th. Barclays reissued an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Finally, Robert W. Baird set a $52.00 price objective on shares of APi Group in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $52.14.

APi Group Price Performance

Shares of NYSE APG opened at $41.73 on Wednesday. The stock’s 50 day moving average price is $43.72 and its 200-day moving average price is $41.99. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a twelve month low of $31.33 and a twelve month high of $49.99. The company has a market capitalization of $18.08 billion, a PE ratio of -58.78, a PEG ratio of 2.38 and a beta of 1.60.

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 the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. APi Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts anticipate that APi Group Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 3,000,000 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 21,240,426 shares in the company, valued at $868,308,614.88. The trade was a 12.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Lillie sold 225,539 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 4,444,000 shares of company stock valued at $187,377,645. Company insiders own 18.70% of the company’s stock.

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.