APi Group Corporation $APG Stock Position Trimmed by Lionstone Capital Management LLC

Key Points

• Lionstone Capital Management trimmed its APi Group stake by 5.4% in the fourth quarter, but APG remains its largest holding, making up about 21.9% of the fund’s portfolio.
• APi Group reported better-than-expected quarterly results, posting EPS of $0.32 versus the $0.30 estimate and revenue of $1.98 billion, up 15.3% year over year.
• Despite some insider selling, Wall Street remains broadly bullish on APi Group, with an average “Moderate Buy” rating and an average price target of $52.14.

Lionstone Capital Management LLC cut its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,476,270 shares of the company's stock after selling 140,480 shares during the quarter. APi Group accounts for about 21.9% of Lionstone Capital Management LLC's holdings, making the stock its biggest holding. Lionstone Capital Management LLC owned approximately 0.60% of APi Group worth $94,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of APi Group in the 4th quarter worth $27,000. Cornerstone Planning Group LLC lifted its holdings in shares of APi Group by 14,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock worth $31,000 after acquiring an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company's stock worth $29,000 after acquiring an additional 722 shares in the last quarter. IFP Advisors Inc increased its stake in APi Group by 146.7% in the fourth quarter. IFP Advisors Inc now owns 824 shares of the company's stock valued at $32,000 after acquiring an additional 490 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company's stock valued at $29,000 after acquiring an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Stock Up 2.0%

Shares of NYSE:APG opened at $42.48 on Wednesday. The stock has a market capitalization of $18.40 billion, a P/E ratio of -59.83, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. The stock's 50-day moving average price is $43.99 and its 200-day moving average price is $42.35. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 12-month low of $31.95 and a 12-month high of $49.99.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APG. Truist Financial set a $55.00 price target on APi Group and gave the stock a "buy" rating in a research note on Friday, May 1st. Weiss Ratings cut APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Royal Bank Of Canada boosted their target price on APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. UBS Group upped their target price on APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.14.

Insider Buying and Selling at APi Group

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction 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 sale, the director directly owned 9,477,284 shares of the company's stock, valued at $431,121,649.16. The trade was a 0.69% decrease in their position. 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. Over the last 90 days, insiders sold 6,444,000 shares of company stock worth $271,537,645. 18.70% of the stock is currently owned by insiders.

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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