Oarsman Capital Inc. Boosts Stake in APi Group Corporation $APG

Key Points

• Oarsman Capital increased its APi Group stake by 1,267.9% in the second quarter, reaching 246,509 shares valued at approximately $10.4 million. Institutional investors collectively own 86.62% of the company.
• APi Group exceeded quarterly expectations, reporting $0.44 in EPS versus a $0.43 estimate and $2.25 billion in revenue, up 13.3% year over year. Analysts project $1.72 in full-year EPS.
• Wall Street maintains a generally positive view, with an average rating of “Moderate Buy” and a $52.57 price target, while insiders have sold 2.67 million shares worth about $110.8 million over the past three months.

Oarsman Capital Inc. lifted its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 1,267.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 246,509 shares of the company's stock after acquiring an additional 228,488 shares during the period. APi Group makes up 0.8% of Oarsman Capital Inc.'s investment portfolio, making the stock its 16th biggest position. Oarsman Capital Inc. owned about 0.06% of APi Group worth $10,440,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in APi Group by 1.1% during the first quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock valued at $946,846,000 after purchasing an additional 250,873 shares in the last quarter. Durable Capital Partners LP boosted its holdings 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 worth $512,050,000 after purchasing an additional 4,274,610 shares in the last quarter. Viking Global Investors LP boosted its holdings in shares of APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after purchasing an additional 768,759 shares in the last quarter. State Street Corp increased its position in shares of APi Group by 0.8% during the 4th quarter. State Street Corp now owns 10,863,164 shares of the company's stock valued at $415,625,000 after purchasing an additional 91,388 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of APi Group by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company's stock valued at $277,465,000 after purchasing an additional 624,529 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

APi Group Stock Performance

Shares of APG stock opened at $39.70 on Monday. The company has a market capitalization of $17.16 billion, a P/E ratio of -59.25, a PEG ratio of 2.31 and a beta of 1.60. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a 50 day moving average price of $41.28 and a two-hundred day moving average price of $42.62.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that APi Group Corporation will post 1.72 earnings per share for the current year.

Insider Activity

In other news, Director Ian G. H. Ashken sold 214,928 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the completion of the sale, the director directly owned 9,262,356 shares in the company, valued at approximately $369,660,627.96. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,667,000 shares of company stock valued at $110,810,972. 18.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays restated an "overweight" rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. UBS Group set a $52.00 price objective on shares of APi Group in a report on Monday, July 20th. Wells Fargo & Company began coverage on shares of APi Group in a research note on Tuesday, August 4th. They issued an "overweight" rating and a $53.00 price objective for the company. Finally, Wall Street Zen lowered shares of APi Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.57.

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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