Carmel Capital Partners LLC Increases Position in APi Group Corporation $APG

Carmel Capital Partners LLC raised its holdings in APi Group Corporation (NYSE:APG) by 21.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,873 shares of the company’s stock after acquiring an additional 14,248 shares during the period. APi Group makes up approximately 1.2% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 17th largest position. Carmel Capital Partners LLC’s holdings in APi Group were worth $2,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bares Capital Management Inc. purchased a new stake in shares of APi Group in the second quarter valued at approximately $30,000. Steigerwald Gordon & Koch Inc. acquired a new position in APi Group during the third quarter worth $31,000. Root Financial Partners LLC purchased a new stake in APi Group in the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC grew its holdings in APi Group by 50.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock valued at $44,000 after buying an additional 425 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of APi Group by 547.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after acquiring an additional 1,078 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APG has been the subject of a number of analyst reports. UBS Group set a $49.00 price objective on shares of APi Group and gave the company a “buy” rating in a report on Thursday, January 15th. Citigroup reissued a “buy” rating and issued a $49.00 price target (up previously from $45.00) on shares of APi Group in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Truist Financial upped their price objective on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays raised their target price on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average target price of $43.24.

APi Group Stock Up 0.0%

Shares of NYSE APG opened at $42.42 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $39.61 and its two-hundred day moving average is $36.66. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $43.26. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 115.69 and a beta of 1.70.

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

Insider Transactions at APi Group

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