Kennedy Capital Management LLC Has $7.55 Million Holdings in APi Group Corporation $APG

Key Points

• Kennedy Capital Management increased its APi Group stake by 29.8% in the fourth quarter, bringing its holdings to 197,402 shares valued at about $7.55 million.
• Analysts remain positive on APi Group, with several firms reiterating or raising buy/overweight ratings and a consensus rating of Moderate Buy with a $52.14 price target.
• Insider selling has been notable, including director sales by Martin E. Franklin and James E. Lillie, while APi Group also reported a stronger-than-expected quarter with higher revenue and EPS than analysts forecast.

Kennedy Capital Management LLC increased its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,402 shares of the company's stock after acquiring an additional 45,270 shares during the quarter. Kennedy Capital Management LLC's holdings in APi Group were worth $7,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP boosted its stake in APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after acquiring an additional 4,274,610 shares during the last quarter. Viking Global Investors LP boosted its stake in APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after acquiring an additional 768,759 shares during the last quarter. State Street Corp boosted its stake in APi Group by 0.8% during the 4th quarter. State Street Corp now owns 10,863,164 shares of the company's stock worth $415,625,000 after acquiring an additional 91,388 shares during the last quarter. Finally, Findlay Park Partners LLP boosted its stake in APi Group by 13.1% during the 3rd quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company's stock worth $259,152,000 after acquiring an additional 873,420 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on APG. Citigroup reissued a "buy" rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Truist Financial set a $55.00 price target on shares of APi Group and gave the company a "buy" rating in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price target on shares of APi Group in a research note on Friday, May 1st. Barclays reaffirmed an "overweight" rating and issued a $54.00 price target (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 research note 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 issued a Hold rating to the company. According to data from MarketBeat, APi Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.14.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 3,000,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. The trade was a 12.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 225,539 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. The trade was a 2.37% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 6,444,000 shares of company stock worth $271,537,645. Insiders own 18.70% of the company's stock.

APi Group Price Performance

NYSE APG opened at $42.34 on Monday. 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 12-month low of $31.75 and a 12-month high of $49.99. The company has a market capitalization of $18.34 billion, a PE ratio of -59.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.60. The firm's 50 day moving average is $43.99 and its 200-day moving average is $42.31.

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, beating analysts' consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned $0.37 earnings per share. The firm's revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that APi Group Corporation will post 1.7 earnings per share 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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