Capital Research Global Investors Buys 1,017,275 Shares of APi Group Corporation $APG

Key Points

• Capital Research Global Investors boosted its APi Group (NYSE:APG) stake by 18.6%, buying 1,017,275 shares to hold 6,500,638 shares (about 1.56%), valued at roughly $223.4 million.
• Insider selling accelerated: insiders sold 682,000 shares (~$29.7 million) in the last quarter, including Director Ian G. H. Ashken's sale of 114,409 shares and SVP Louis Lambert's 22,000, though insiders still own 17% of the company.
• APi Group topped quarterly estimates with $0.44 EPS (vs. $0.40) and $2.12B revenue (+13.8% Y/Y), and multiple brokerages raised targets (Citigroup/RBC/Truist to $52–$53), leaving an average analyst rating of Moderate Buy and a $48.57 target.

Capital Research Global Investors lifted its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 18.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,500,638 shares of the company's stock after buying an additional 1,017,275 shares during the quarter. Capital Research Global Investors owned approximately 1.56% of APi Group worth $223,427,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in APi Group during the 1st quarter worth $650,000. Goldman Sachs Group Inc. grew its stake in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock valued at $6,369,000 after purchasing an additional 75,490 shares during the last quarter. Atria Investments Inc grew its stake in APi Group by 7.9% during the 2nd quarter. Atria Investments Inc now owns 7,642 shares of the company's stock valued at $390,000 after purchasing an additional 557 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of APi Group in the second quarter worth about $1,211,000. Finally, Simplex Trading LLC acquired a new stake in shares of APi Group during the second quarter worth about $207,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

NYSE:APG opened at $41.61 on Wednesday. The company has a fifty day simple moving average of $42.72 and a two-hundred day simple moving average of $38.66. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89. The company has a market cap of $17.95 billion, a price-to-earnings ratio of -54.99, a price-to-earnings-growth ratio of 2.53 and a beta of 1.69.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.04. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on APG. Citigroup upped their target price on APi Group from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada raised their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Truist Financial upped their price objective on shares of APi Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of APi Group in a research note on Monday, December 22nd. Finally, CJS Securities upgraded APi Group to a "strong-buy" rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, APi Group has an average rating of "Moderate Buy" and an average target price of $48.57.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 114,409 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the completion of the sale, the director directly owned 10,633,830 shares of the company's stock, valued at $458,530,749.60. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Louis Lambert sold 22,000 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total transaction of $983,620.00. Following the completion of the sale, the senior vice president owned 16,148 shares of the company's stock, valued at $721,977.08. This trade represents a 57.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 682,000 shares of company stock worth $29,693,385 in the last quarter. Company insiders own 17.00% of the company's stock.

APi Group Profile

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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