ACR Alpine Capital Research LLC Boosts Stock Position in APi Group Corporation $APG

ACR Alpine Capital Research LLC lifted its stake in APi Group Corporation (NYSE:APG) by 52.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,153 shares of the company’s stock after acquiring an additional 20,681 shares during the period. APi Group makes up about 0.0% of ACR Alpine Capital Research LLC’s holdings, making the stock its 29th largest holding. ACR Alpine Capital Research LLC’s holdings in APi Group were worth $2,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bares Capital Management Inc. bought a new position in APi Group in the 2nd quarter worth about $30,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of APi Group during the third quarter valued at about $31,000. Root Financial Partners LLC purchased a new stake in shares of APi Group in the third quarter worth about $32,000. Nisa Investment Advisors LLC boosted its position in shares of APi Group by 50.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock valued at $44,000 after acquiring an additional 425 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after acquiring an additional 1,078 shares during the period. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Performance

NYSE:APG opened at $42.42 on Friday. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 115.69 and a beta of 1.70. The business has a 50 day moving average of $39.61 and a 200 day moving average of $36.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $43.26.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Citigroup reiterated a “buy” rating and issued a $49.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Monday, January 12th. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Finally, CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus target price of $43.24.

Insiders Place Their Bets

In related news, Director Anthony E. Malkin acquired 3,000 shares of APi Group stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average cost of $39.58 per share, with a total value of $118,740.00. Following the completion of the purchase, the director owned 7,000 shares of the company’s stock, valued at $277,060. This represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 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 company insiders.

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.