Montrusco Bolton Investments Inc. Has $115.31 Million Stock Holdings in APi Group Corporation $APG

Key Points

• Montrusco Bolton Investments raised its stake in APi Group (NYSE:APG) by 110.8% in Q4 to 3,090,155 shares valued at $115.31 million, making APG 1.4% of Montrusco's portfolio and its 23rd-largest position.
• Several brokers boosted price targets and maintained positive ratings—UBS to $54, Citigroup to $52, Truist to $53 and RBC to $53—yielding a consensus "Moderate Buy" rating and an average price target of $48.57.
• Insiders have been net sellers recently, offloading about 3.68 million shares (~$152.3 million) in the last 90 days, though insiders still own 18.7% of the company and institutions hold 86.62%.

Montrusco Bolton Investments Inc. increased its holdings in APi Group Corporation (NYSE:APG - Free Report) by 110.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,090,155 shares of the company's stock after purchasing an additional 1,624,455 shares during the period. APi Group makes up 1.4% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 23rd biggest position. Montrusco Bolton Investments Inc. owned about 0.74% of APi Group worth $115,314,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in APi Group by 47.4% during the third quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company's stock worth $11,586,000 after buying an additional 108,433 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in APi Group by 48.6% during the third quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company's stock worth $23,172,000 after buying an additional 220,551 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of APi Group by 72.1% during the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company's stock valued at $170,485,000 after purchasing an additional 2,077,705 shares during the last quarter. Truist Financial Corp grew its stake in shares of APi Group by 29.5% during the third quarter. Truist Financial Corp now owns 189,800 shares of the company's stock valued at $6,523,000 after purchasing an additional 43,202 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its stake in shares of APi Group by 59.6% during the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company's stock valued at $3,874,000 after purchasing an additional 42,111 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of APi Group from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Citigroup increased their price target on shares of APi Group from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Truist Financial increased their price target on shares of APi Group from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Royal Bank Of Canada increased their price target 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. Finally, Wall Street Zen cut shares of APi Group from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. One research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.57.

Insider Buying and Selling at APi Group

In other news, Director Ian G. H. Ashken sold 114,409 shares of APi Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the transaction, 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 SEC, which is available through this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction on Thursday, March 19th. The stock was 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. This represents a 12.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,682,000 shares of company stock valued at $152,333,385. 18.70% of the stock is currently owned by insiders.

APi Group Price Performance

Shares of APG stock opened at $48.65 on Friday. APi Group Corporation has a 52-week low of $24.46 and a 52-week high of $49.45. The stock has a market cap of $21.04 billion, a PE ratio of -64.29, a PEG ratio of 2.92 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The firm's 50 day moving average price is $43.38 and its two-hundred day moving average price is $40.48.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period last year, the firm earned $0.51 earnings per share. The business's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts forecast that APi Group Corporation will post 1.67 EPS for the current year.

About APi Group

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.

Want to see what other hedge funds are holding APG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APi Group Corporation (NYSE:APG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.