Empowered Funds LLC Invests $3.09 Million in APi Group Corporation $APG

Key Points

• Empowered Funds invested approximately $3.09 million in APi Group during the first quarter by acquiring 76,301 shares. Institutional investors collectively own 86.62% of the company.
• Analysts remain broadly positive, with APi Group carrying a “Moderate Buy” consensus rating and an average price target of $52.57. Recent targets range from $47 to $55, although Wall Street Zen downgraded the stock to “Hold.”
• APi Group exceeded quarterly expectations, reporting $0.44 in earnings per share and $2.25 billion in revenue, up 13.3% year over year. The company’s shares recently opened at $41.52, while two directors disclosed significant stock sales, including a $84.16 million sale by Martin E. Franklin.

Empowered Funds LLC acquired a new stake in APi Group Corporation (NYSE:APG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,301 shares of the company's stock, valued at approximately $3,092,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APG. Quantinno Capital Management LP raised its position in shares of APi Group by 58.2% in the 1st quarter. Quantinno Capital Management LP now owns 84,197 shares of the company's stock valued at $3,412,000 after acquiring an additional 30,967 shares during the period. SummitTX Capital L.P. bought a new position in shares of APi Group during the first quarter worth $2,092,000. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of APi Group in the 1st quarter valued at $2,851,000. Arrowstreet Capital Limited Partnership increased its position in shares of APi Group by 34.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 663,215 shares of the company's stock valued at $26,873,000 after buying an additional 168,197 shares in the last quarter. Finally, Caxton Associates LLP raised its stake in APi Group by 51.4% during the 1st quarter. Caxton Associates LLP now owns 84,141 shares of the company's stock worth $3,409,000 after buying an additional 28,578 shares during the period. Institutional investors own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APG shares. Citigroup reiterated a "buy" rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a research report on Friday. Wells Fargo & Company initiated coverage on shares of APi Group in a report on Tuesday. They issued an "overweight" rating and a $53.00 price target for the company. 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. Robert W. Baird set a $47.00 target price on shares of APi Group in a research note on Friday. Finally, Wall Street Zen cut APi Group from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.57.

Insider Transactions at APi Group

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the transaction, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.70% of the stock is currently owned by insiders.

APi Group Stock Performance

Shares of APG stock opened at $41.52 on Wednesday. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The company's fifty day simple moving average is $41.26 and its 200-day simple moving average is $42.68. The firm has a market cap of $17.94 billion, a PE ratio of -61.97, a P/E/G ratio of 2.32 and a beta of 1.60. 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 (NYSE:APG - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts expect that APi Group Corporation will post 1.72 EPS for the current fiscal year.

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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