Harbor Capital Advisors Inc. Acquires Shares of 22,135 APi Group Corporation $APG

Harbor Capital Advisors Inc. bought a new position in shares of APi Group Corporation (NYSE:APG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,135 shares of the company’s stock, valued at approximately $847,000.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup lifted their price target on APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Barclays increased their price objective on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Truist Financial lifted their target price on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Finally, Royal Bank Of Canada increased their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. One investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.57.

APi Group Stock Performance

NYSE APG opened at $42.05 on Monday. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.89. The company has a fifty day moving average of $42.60 and a 200-day moving average of $39.38. The company has a market capitalization of $18.14 billion, a P/E ratio of -55.58, a P/E/G ratio of 2.51 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50.

APi Group (NYSE:APG) last released its earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Activity

In related news, Director James E. Lillie sold 100,888 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $44.30, for a total value of $4,469,338.40. Following the completion of the sale, the director owned 9,706,462 shares in the company, valued at $429,996,266.60. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was 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 represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,682,000 shares of company stock worth $152,333,385. 17.00% of the stock is currently owned by 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.