APi Group Corporation $APG is Schwartz Investment Counsel Inc.'s 4th Largest Position

Key Points

• Schwartz Investment Counsel trimmed its APi Group stake by 8.1% in the fourth quarter, but APG still remains its 4th largest holding at about $108.8 million.
• Several analysts turned more positive on APi Group, with recent buy/outperform calls and higher price targets; the stock’s average analyst target is now $52.14.
• APi Group reported strong quarterly results, with EPS of $0.32 beating estimates and revenue of $1.98 billion topping expectations, while revenue grew 15.3% year over year.

Schwartz Investment Counsel Inc. reduced its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,844,652 shares of the company's stock after selling 250,000 shares during the period. APi Group makes up approximately 3.8% of Schwartz Investment Counsel Inc.'s portfolio, making the stock its 4th largest position. Schwartz Investment Counsel Inc. owned about 0.68% of APi Group worth $108,836,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in APi Group during the fourth quarter worth about $27,000. Cornerstone Planning Group LLC raised its holdings in APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock worth $31,000 after purchasing an additional 736 shares in the last quarter. Clearstead Advisors LLC raised its holdings in 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 in the last quarter. Parallel Advisors LLC raised its holdings in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Finally, Silicon Valley Capital Partners raised 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 purchasing an additional 286 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. 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. Barclays reissued an "overweight" rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Citigroup reaffirmed a "buy" rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, APi Group currently has an average rating of "Moderate Buy" and an average target price of $52.14.

Insider Activity

In other news, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total value of $122,640,000.00. Following the sale, the director directly owned 21,240,426 shares in the company, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the sale, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. This represents a 0.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,126,000 shares of company stock worth $217,071,030 over the last ninety days. 18.70% of the stock is currently owned by insiders.

APi Group Trading Down 2.0%

Shares of APi Group stock opened at $43.22 on Wednesday. APi Group Corporation has a 12-month low of $30.00 and a 12-month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The stock has a market cap of $18.73 billion, a PE ratio of -60.88, a price-to-earnings-growth ratio of 2.59 and a beta of 1.67. The company has a 50-day moving average of $43.69 and a two-hundred day moving average of $41.37.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the company posted $0.37 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that APi Group Corporation will post 1.7 EPS for the current fiscal year.

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.

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