APi Group Co. (NYSE:APG) Position Lowered by Gates Capital Management Inc.

Gates Capital Management Inc. lowered its stake in APi Group Co. (NYSE:APG) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,013,884 shares of the company’s stock after selling 833,316 shares during the quarter. APi Group comprises approximately 3.4% of Gates Capital Management Inc.’s holdings, making the stock its 4th largest holding. Gates Capital Management Inc. owned 1.82% of APi Group worth $180,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Equitable Trust Co. lifted its stake in shares of APi Group by 1.7% during the 4th quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock worth $744,000 after acquiring an additional 351 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of APi Group by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock valued at $265,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. grew its stake in APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. EntryPoint Capital LLC increased its holdings in APi Group by 3.9% during the 4th quarter. EntryPoint Capital LLC now owns 10,435 shares of the company’s stock worth $375,000 after purchasing an additional 389 shares during the period. Finally, First Horizon Advisors Inc. raised its position in APi Group by 53.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 414 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares of the company’s stock, valued at $239,748,997.44. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

APi Group Stock Up 0.4 %

APG stock opened at $44.10 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The firm’s fifty day simple moving average is $36.84 and its 200-day simple moving average is $37.05. APi Group Co. has a 12 month low of $30.76 and a 12 month high of $44.37. The company has a market capitalization of $12.21 billion, a P/E ratio of -22.39 and a beta of 1.54.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. During the same quarter in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that APi Group Co. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APG has been the subject of several recent research reports. Robert W. Baird boosted their price target on shares of APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Citigroup decreased their target price on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of APi Group in a report on Thursday, February 27th. Barclays raised their price objective on APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, UBS Group lowered their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.