Azzad Asset Management Inc. ADV Invests $1.67 Million in APi Group Corporation $APG

Key Points

• Azzad Asset Management initiated a new stake in APi Group in Q1, buying 41,325 shares valued at about $1.67 million.
• Wall Street sentiment is positive, with several analysts issuing Buy/Overweight ratings and a consensus target price of $52.14, above the stock’s recent trading level.
• APi Group’s latest quarter beat expectations, posting EPS of $0.32 and revenue of $1.98 billion, both above analyst estimates, while revenue rose 15.3% year over year.

Azzad Asset Management Inc. ADV acquired a new position in APi Group Corporation (NYSE:APG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 41,325 shares of the company's stock, valued at approximately $1,674,000.

Several other large investors also recently added to or reduced their stakes in the business. Congress Asset Management Co. bought a new position in shares of APi Group during the fourth quarter valued at about $49,665,000. Rathbones Group PLC grew its stake in shares of APi Group by 215.7% in the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company's stock worth $8,108,000 after purchasing an additional 144,789 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of APi Group in the third quarter worth about $1,335,000. Allspring Global Investments Holdings LLC increased its holdings in APi Group by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company's stock valued at $188,273,000 after purchasing an additional 92,816 shares during the period. Finally, New Mexico Educational Retirement Board raised its position in APi Group by 50.0% during the 3rd quarter. New Mexico Educational Retirement Board now owns 74,850 shares of the company's stock valued at $2,573,000 after purchasing an additional 24,950 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APG. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Citigroup restated a "buy" rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Robert W. Baird set a $52.00 price target on shares of APi Group in a report on Friday, May 1st. Barclays reissued an "overweight" rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Finally, Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a "buy" rating in a report on Friday, May 1st. One equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $52.14.

Insider Buying and Selling at APi Group

In related news, Director James E. Lillie sold 59,461 shares of APi Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the transaction, the director directly owned 9,237,350 shares of the company's stock, valued at $420,299,425. This trade represents a 0.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction dated 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 transaction, the director directly owned 19,240,426 shares of the company's stock, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,451,000 shares of company stock valued at $149,194,935 over the last 90 days. 18.70% of the stock is owned by corporate insiders.

APi Group Trading Down 0.6%

NYSE APG opened at $41.39 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The firm has a market capitalization of $17.93 billion, a PE ratio of -58.29, a P/E/G ratio of 2.44 and a beta of 1.60. The stock's 50 day moving average is $42.41 and its 200 day moving average is $42.68.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. Research analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

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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