Thematics Asset Management Acquires 20,647 Shares of APi Group Corporation $APG

Key Points

• Thematics Asset Management has increased its stake in APi Group Corporation by 2.9%, now owning a total of 738,647 shares valued at approximately $26.4 million.
• Brokerages have optimistic forecasts for APi Group, with several raising their price targets, including UBS and Truist, both setting targets at $36, indicating strong support for the stock.
• Insider selling was notable, with Director Ian G. H. Ashken selling 205,550 shares for about $7.24 million, representing a 2.51% decrease in his ownership percentage.

Thematics Asset Management increased its stake in APi Group Corporation (NYSE:APG - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 738,647 shares of the company's stock after acquiring an additional 20,647 shares during the period. APi Group comprises about 1.3% of Thematics Asset Management's holdings, making the stock its 21st largest holding. Thematics Asset Management owned approximately 0.27% of APi Group worth $26,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of APi Group by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock valued at $581,073,000 after acquiring an additional 621,761 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of APi Group by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock valued at $359,811,000 after acquiring an additional 1,611,744 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after purchasing an additional 2,906,783 shares during the period. Durable Capital Partners LP increased its holdings in APi Group by 199.8% during the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company's stock valued at $180,121,000 after purchasing an additional 3,337,468 shares during the period. Finally, Permian Investment Partners LP increased its holdings in APi Group by 51.7% during the 4th quarter. Permian Investment Partners LP now owns 3,050,622 shares of the company's stock valued at $109,731,000 after purchasing an additional 1,040,000 shares during the period. Institutional investors own 86.62% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APG shares. Barclays restated an "overweight" rating and set a $42.00 price target (up previously from $40.00) on shares of APi Group in a report on Monday, August 4th. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Truist Financial upped their target price on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded APi Group from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $31.00 to $42.00 in a report on Tuesday, July 15th. Finally, UBS Group upped their target price on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, APi Group has a consensus rating of "Buy" and a consensus price target of $36.10.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 205,550 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total value of $7,243,582.00. Following the transaction, the director directly owned 7,968,167 shares of the company's stock, valued at approximately $280,798,205.08. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 190,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $34.88, for a total value of $6,627,200.00. Following the completion of the transaction, the director directly owned 7,443,101 shares in the company, valued at $259,615,362.88. This trade represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 589,843 shares of company stock valued at $20,694,672. 17.00% of the stock is owned by corporate insiders.

APi Group Stock Up 0.5%

Shares of APi Group stock traded up $0.17 during midday trading on Wednesday, hitting $36.40. The company had a trading volume of 2,581,902 shares, compared to its average volume of 2,811,179. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.45. The stock has a market capitalization of $15.14 billion, a P/E ratio of 27.52 and a beta of 1.56. The company has a 50 day moving average of $34.64 and a 200 day moving average of $29.46. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $36.55.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.88 billion. APi Group had a return on equity of 21.33% and a net margin of 3.35%.The firm's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.