Algert Global LLC Has $21.64 Million Stake in APi Group Corporation $APG

Algert Global LLC raised its holdings in APi Group Corporation (NYSE:APG) by 167.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 629,549 shares of the company’s stock after purchasing an additional 393,791 shares during the quarter. Algert Global LLC owned approximately 0.15% of APi Group worth $21,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Clearstead Advisors LLC grew its holdings in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares during the last quarter. Bares Capital Management Inc. acquired a new position in APi Group during the 2nd quarter worth about $30,000. Steigerwald Gordon & Koch Inc. acquired a new position in APi Group during the 3rd quarter worth about $31,000. Finally, Root Financial Partners LLC bought a new stake in APi Group during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Barclays increased their price target on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Truist Financial upped their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $48.57.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 100,888 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $44.30, for a total transaction of $4,469,338.40. Following the completion of the transaction, the director directly owned 9,706,462 shares in the company, valued at approximately $429,996,266.60. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total value of $4,933,316.08. Following the completion of the sale, the director directly owned 10,633,830 shares of the company’s stock, valued at approximately $458,530,749.60. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 682,000 shares of company stock worth $29,693,385. Insiders own 17.00% of the company’s stock.

APi Group Stock Performance

Shares of APi Group stock opened at $39.89 on Friday. The firm has a fifty day moving average of $42.86 and a two-hundred day moving average of $38.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of -52.72, a PEG ratio of 2.38 and a beta of 1.69. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89.

APi Group (NYSE:APG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. As a group, equities research analysts predict that APi Group Corporation will post 1.83 EPS for the current year.

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.