Cooke & Bieler LP Reduces Stock Holdings in APi Group Corporation $APG

Cooke & Bieler LP lowered its stake in shares of APi Group Corporation (NYSE:APG) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,922,938 shares of the company’s stock after selling 291,787 shares during the quarter. Cooke & Bieler LP owned 0.46% of APi Group worth $66,091,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bares Capital Management Inc. bought a new position in APi Group during the second quarter valued at $30,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of APi Group during the 3rd quarter worth about $31,000. Root Financial Partners LLC bought a new position in APi Group during the 3rd quarter valued at about $32,000. Cullen Frost Bankers Inc. grew its holdings in APi Group by 2,620.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock valued at $37,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Whittier Trust Co. raised its position in APi Group by 49.9% in the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Anthony E. Malkin acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $39.58 per share, with a total value of $118,740.00. Following the transaction, the director directly owned 7,000 shares in the company, valued at approximately $277,060. This represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 7,000 shares of company stock worth $275,720 and sold 900,000 shares worth $32,342,000. 17.00% of the stock is owned by insiders.

APi Group Price Performance

Shares of APG stock opened at $41.81 on Monday. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $43.26. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $39.70 and a two-hundred day simple moving average of $36.74. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 114.02 and a beta of 1.70.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APG. Barclays upped their target price on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Truist Financial boosted their price objective on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Citigroup reissued a “buy” rating and set a $49.00 target price (up from $45.00) on shares of APi Group in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.24.

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.