APi Group Corporation $APG Stock Purchased by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP increased its APi Group stake by 13.6% in the third quarter, adding 243,225 shares to own 2.03 million shares valued at approximately $78.4 million. Institutional investors collectively own 86.62% of the company.
• Analysts maintain a generally positive outlook, with APi Group holding a consensus “Buy” rating and an average price target of $52.71, despite some recent downgrades to “Hold.”
• APi Group exceeded quarterly expectations with $0.44 in EPS versus $0.43 expected and revenue of $2.25 billion, up 13.3% year over year; however, insiders sold 660,000 shares worth $26.4 million over the past three months.

Cooke & Bieler LP grew its holdings in shares of APi Group Corporation (NYSE:APG - Free Report) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,030,753 shares of the company's stock after buying an additional 243,225 shares during the quarter. Cooke & Bieler LP owned 0.47% of APi Group worth $78,387,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in APi Group during the 3rd quarter worth $290,000. Diversify Advisory Services LLC increased its holdings in APi Group by 9.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 6,041 shares of the company's stock valued at $244,000 after purchasing an additional 523 shares in the last quarter. Optivise Advisory Services LLC purchased a new position in APi Group in the third quarter valued at about $214,000. AdvisorNet Financial Inc raised its position in APi Group by 3.3% in the third quarter. AdvisorNet Financial Inc now owns 13,779 shares of the company's stock valued at $551,000 after purchasing an additional 444 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its position in APi Group by 4.4% in the third quarter. ZWJ Investment Counsel Inc. now owns 8,625 shares of the company's stock valued at $333,000 after purchasing an additional 367 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APG has been the topic of several recent research reports. Weiss Ratings lowered APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, October 6th. Wall Street Zen downgraded shares of APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group set a $52.00 price objective on shares of APi Group in a research report on Monday, July 20th. Wells Fargo & Company started coverage on shares of APi Group in a research note on Tuesday, August 4th. They set an "overweight" rating and a $53.00 price objective on the stock. Finally, Robert W. Baird set a $47.00 target price on shares of APi Group in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, APi Group currently has an average rating of "Buy" and a consensus price target of $52.71.

APi Group Price Performance

Shares of NYSE APG opened at $40.21 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91. APi Group Corporation has a fifty-two week low of $33.52 and a fifty-two week high of $49.99. The business has a 50 day moving average price of $39.83 and a two-hundred day moving average price of $41.69. The firm has a market cap of $17.38 billion, a PE ratio of -60.02, a price-to-earnings-growth ratio of 1.80 and a beta of 1.57.

APi Group (NYSE:APG - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%. APi Group's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Sell-side analysts expect that APi Group Corporation will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James E. Lillie sold 285,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $39.84, for a total value of $11,354,400.00. Following the sale, the director directly owned 8,952,350 shares of the company's stock, valued at $356,661,624. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 85,072 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the completion of the sale, the director directly owned 9,177,284 shares in the company, valued at $370,395,182.24. This represents a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 660,000 shares of company stock valued at $26,353,682 in the last three months. Corporate insiders own 18.70% of the company's stock.

APi Group Company Profile

APi Group Corporation NYSE: APG is a global provider of safety, specialty and industrial services. The company serves commercial, industrial and infrastructure customers through a network of operating businesses that provide services designed to protect people, property and critical assets.

APi Group's offerings include fire protection and life-safety systems, security services, heating, ventilation and air-conditioning services, industrial maintenance, specialty contracting and infrastructure services.

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