Western Wealth Management LLC Makes New $520,000 Investment in APi Group Corporation $APG

Western Wealth Management LLC acquired a new position in shares of APi Group Corporation (NYSE:APG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,835 shares of the company’s stock, valued at approximately $520,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of APi Group in the fourth quarter valued at about $181,066,000. Durable Capital Partners LP increased its stake in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp increased its stake in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after acquiring an additional 3,620,931 shares during the period. Invesco Ltd. increased its stake in APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after acquiring an additional 3,535,682 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in APi Group in the 4th quarter valued at approximately $132,125,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Up 1.0%

Shares of APG stock opened at $43.90 on Friday. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The company has a market capitalization of $18.97 billion, a P/E ratio of -65.51, a P/E/G ratio of 2.53 and a beta of 1.60. The firm has a 50-day moving average price of $41.42 and a 200 day moving average price of $42.69. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. Research analysts forecast that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup restated a “buy” rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Wall Street Zen lowered APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Robert W. Baird set a $47.00 target price on APi Group in a research report on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.57.

Insider Activity

In related news, Director Ian G. H. Ashken sold 214,928 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the sale, the director directly owned 9,262,356 shares in the company, valued at $369,660,627.96. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,667,000 shares of company stock worth $110,810,972. 18.70% of the stock is currently owned by insiders.

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.