Eagle Rock Investment Company LLC Boosts Holdings in APi Group Corporation $APG

Eagle Rock Investment Company LLC boosted its stake in shares of APi Group Corporation (NYSE:APG) by 122.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 45,354 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Eagle Rock Investment Company LLC’s holdings in APi Group were worth $1,735,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Clearstead Advisors LLC lifted its holdings in shares of APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the period. Silicon Valley Capital Partners grew its holdings in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC raised its position in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Bares Capital Management Inc. purchased a new position in APi Group during the second quarter valued at approximately $30,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in APi Group in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APG. Royal Bank Of Canada raised their price objective on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Truist Financial raised their price target on shares of APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Barclays lifted their price objective on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, UBS Group upped their price objective on shares of APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.57.

Insiders Place Their Bets

In other news, Director James E. Lillie sold 100,888 shares of APi Group stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $44.30, for a total value of $4,469,338.40. Following the sale, the director owned 9,706,462 shares in the company, valued at $429,996,266.60. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ian G. H. Ashken sold 114,409 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the sale, the director directly owned 10,633,830 shares of the company’s stock, valued at $458,530,749.60. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,682,000 shares of company stock worth $152,333,385. Company insiders own 17.00% of the company’s stock.

APi Group Stock Down 2.1%

Shares of APG opened at $39.92 on Friday. The firm has a market cap of $17.22 billion, a P/E ratio of -52.75, a PEG ratio of 2.43 and a beta of 1.69. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.89. The stock’s 50 day moving average is $42.73 and its two-hundred day moving average is $39.12. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81.

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