Western Wealth Management LLC Takes Position in APi Group Corporation $APG

Western Wealth Management LLC purchased a new position in shares of APi Group Corporation (NYSE:APG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,835 shares of the company’s stock, valued at approximately $520,000.

A number of other hedge funds have also bought and sold shares of APG. Janus Henderson Group PLC boosted its holdings in APi Group by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company’s stock valued at $946,846,000 after purchasing an additional 250,873 shares during the period. Durable Capital Partners LP increased its holdings in shares of APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares during the period. Viking Global Investors LP raised its position in shares of APi Group by 6.7% in the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after buying an additional 768,759 shares in the last quarter. State Street Corp raised its position in shares of APi Group by 0.8% in the fourth quarter. State Street Corp now owns 10,863,164 shares of the company’s stock valued at $415,625,000 after buying an additional 91,388 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of APi Group by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock valued at $277,465,000 after buying an additional 624,529 shares during the period. 86.62% of the stock is owned by institutional investors.

APi Group Stock Performance

Shares of APi Group stock opened at $39.90 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The company has a market cap of $17.28 billion, a PE ratio of -59.54, a price-to-earnings-growth ratio of 2.32 and a beta of 1.60. The company has a 50 day moving average of $41.28 and a 200-day moving average of $42.68. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of analyst reports. Wall Street Zen downgraded APi Group from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup reaffirmed a “buy” rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a report on Friday. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Barclays reissued an “overweight” rating and set a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Truist Financial set a $55.00 price target on APi Group 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, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and an average target price of $52.50.

Insiders Place Their Bets

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The disclosure for this sale is available in the SEC filing. Company insiders own 18.70% of the company’s stock.

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.