APi Group Corporation $APG Shares Bought by Pelham Capital Ltd.

Key Points

• Pelham Capital Ltd. increased its stake in APi Group by 23.4% in the fourth quarter, buying 91,160 more shares and bringing its holdings to 481,296 shares. The position was worth about $18.4 million and made APi Group Pelham’s fourth-largest holding.
• APi Group posted better-than-expected quarterly results, reporting EPS of $0.32 versus the $0.30 estimate and revenue of $1.98 billion versus $1.92 billion expected. Revenue also rose 15.3% year over year.
• Despite strong earnings and positive analyst coverage, insider selling has been notable, including large sales by directors Ian G. H. Ashken and Martin E. Franklin. Analysts currently rate the stock a Moderate Buy with a consensus price target of $52.14.

Pelham Capital Ltd. lifted its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 481,296 shares of the company's stock after buying an additional 91,160 shares during the quarter. APi Group comprises about 9.8% of Pelham Capital Ltd.'s portfolio, making the stock its 4th largest holding. Pelham Capital Ltd. owned approximately 0.12% of APi Group worth $18,414,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in shares of APi Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 98,581 shares of the company's stock worth $3,772,000 after buying an additional 277 shares during the last quarter. Silicon Valley Capital Partners lifted its stake in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company's stock worth $29,000 after buying an additional 286 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after buying an additional 297 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of APi Group by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company's stock worth $3,169,000 after buying an additional 314 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of APi Group by 4.7% during the 4th quarter. Wedmont Private Capital now owns 7,655 shares of the company's stock worth $314,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Price Performance

Shares of APi Group stock opened at $42.38 on Friday. APi Group Corporation has a twelve month low of $31.40 and a twelve month high of $49.99. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $43.78 and a two-hundred day simple moving average of $42.09. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of -59.69, a price-to-earnings-growth ratio of 2.48 and a beta of 1.60.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm earned $0.37 EPS. The business's quarterly revenue was up 15.3% compared to the same quarter last year. Analysts forecast that APi Group Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 1,018,466 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the transaction, the director directly owned 9,542,818 shares of the company's stock, valued at $426,850,249.14. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,444,000 shares of company stock valued at $187,377,645 in the last ninety days. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Citigroup reiterated a "buy" rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note on Friday, May 1st. Finally, Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a "buy" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, APi Group currently has an average rating of "Moderate Buy" and a consensus price target of $52.14.

About APi Group

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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