Fisher Asset Management LLC Reduces Stock Holdings in APi Group Corporation $APG

Key Points

• Fisher Asset Management trimmed its APi Group stake by 4.0% in the fourth quarter, selling 68,778 shares and ending with 1,668,199 shares worth about $63.8 million.
• Several other major institutions increased their holdings, and hedge funds and other institutional investors now own 86.62% of APi Group’s shares.
• Analysts remain constructive on the stock, with a Moderate Buy consensus and average target price of $52.14; the company also beat quarterly EPS and revenue expectations in its latest earnings report.

Fisher Asset Management LLC reduced its holdings in APi Group Corporation (NYSE:APG - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,668,199 shares of the company's stock after selling 68,778 shares during the period. Fisher Asset Management LLC owned about 0.40% of APi Group worth $63,825,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares during the period. Durable Capital Partners LP lifted its stake in shares of APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the period. State Street Corp lifted its stake in shares of APi Group by 50.6% in the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company's stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the period. Invesco Ltd. lifted its stake in shares of APi Group by 224.6% in the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company's stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in shares of APi Group by 86.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,430,657 shares of the company's stock valued at $207,798,000 after purchasing an additional 2,511,993 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Robert W. Baird set a $52.00 target price on shares of APi Group in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Barclays reiterated an "overweight" rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, APi Group presently has a consensus rating of "Moderate Buy" and an average target price of $52.14.

APi Group Stock Up 0.0%

Shares of NYSE APG opened at $41.65 on Tuesday. The company's 50-day simple moving average is $43.69 and its 200-day simple moving average is $41.83. APi Group Corporation has a 52-week low of $30.00 and a 52-week high of $49.99. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of -58.66, a price-to-earnings-growth ratio of 2.45 and a beta of 1.67. 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 (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. Equities analysts predict that APi Group Corporation will post 1.7 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 15,648 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $711,984.00. Following the completion of the sale, the director owned 1,275,019 shares of the company's stock, valued at approximately $58,013,364.50. This represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 65,534 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the sale, the director directly owned 9,477,284 shares of the company's stock, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,126,000 shares of company stock valued at $217,071,030. Corporate 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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