Carmel Capital Partners LLC Purchases 29,755 Shares of APi Group Corporation $APG

Key Points

• Carmel Capital Partners LLC increased its stake in APi Group (NYSE:APG) by 37.3%, buying 29,755 shares to hold 109,628 shares valued at about $4.19 million, making APG its 16th-largest holding (1.5% of assets).
• Company insiders have been net sellers recently, disposing of 3,682,000 shares worth roughly $152.33 million over the past three months, though insiders still own 18.70% of APi Group.
• Analyst sentiment is mostly positive — the consensus rating is "Moderate Buy" with a consensus price target of $48.57 after several firms raised targets and issued buy/outperform ratings.

Carmel Capital Partners LLC raised its position in APi Group Corporation (NYSE:APG - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,628 shares of the company's stock after buying an additional 29,755 shares during the quarter. APi Group accounts for 1.5% of Carmel Capital Partners LLC's holdings, making the stock its 16th biggest holding. Carmel Capital Partners LLC's holdings in APi Group were worth $4,194,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of APi Group during the first quarter worth $650,000. Goldman Sachs Group Inc. grew its stake in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock valued at $6,369,000 after acquiring an additional 75,490 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in APi Group by 547.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company's stock worth $65,000 after acquiring an additional 1,078 shares during the period. First Trust Advisors LP increased its position in APi Group by 166.5% during the second quarter. First Trust Advisors LP now owns 173,569 shares of the company's stock worth $8,861,000 after acquiring an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in APi Group by 5.7% in the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company's stock valued at $577,000 after purchasing an additional 612 shares during the period. Institutional investors own 86.62% of the company's stock.

APi Group Price Performance

APG stock opened at $48.65 on Friday. The company's 50-day moving average price is $43.38 and its two-hundred day moving average price is $40.52. The firm has a market cap of $21.04 billion, a P/E ratio of -64.29, a P/E/G ratio of 2.92 and a beta of 1.68. 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 12 month low of $24.46 and a 12 month high of $49.45.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.04. The company 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 firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts anticipate that APi Group Corporation will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APG. Royal Bank Of Canada increased their target price 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. Barclays lifted their price target on shares of APi Group from $44.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Truist Financial boosted their price target on APi Group from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wall Street Zen downgraded APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, UBS Group raised their price objective on APi Group from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.57.

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 72,546 shares of APi Group stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,115,125.24. Following the transaction, the director owned 10,561,284 shares in the company, valued at approximately $453,501,534.96. This trade represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total value of $3,591,029.26. Following the transaction, the director directly owned 9,522,350 shares of the company's stock, valued at $408,889,709. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,682,000 shares of company stock worth $152,333,385 over the last three months. Insiders own 18.70% of the company's stock.

APi Group Company 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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