Western Wealth Management LLC Makes New Investment in APi Group Corporation $APG

Western Wealth Management LLC acquired a new stake in APi Group Corporation (NYSE:APG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,835 shares of the company’s stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of APi Group by 31.7% during the first quarter. Pacer Advisors Inc. now owns 73,217 shares of the company’s stock worth $2,967,000 after purchasing an additional 17,639 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of APi Group during the first quarter valued at approximately $2,851,000. Glenmede Trust Co. NA acquired a new stake in shares of APi Group in the first quarter valued at approximately $250,000. Wellington Grp LLC increased its holdings in shares of APi Group by 19,717.2% in the first quarter. Wellington Grp LLC now owns 36,860 shares of the company’s stock valued at $1,494,000 after purchasing an additional 36,674 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new stake in shares of APi Group in the first quarter valued at approximately $3,668,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 85,072 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total value of $3,433,505.92. Following the completion of the transaction, the director directly owned 9,177,284 shares in the company, valued at approximately $370,395,182.24. This trade represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,667,000 shares of company stock worth $110,810,972. 18.70% of the stock is currently owned by insiders.

APi Group Stock Up 1.0%

Shares of NYSE:APG opened at $43.90 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of -65.51, a P/E/G ratio of 2.53 and a beta of 1.60. The company has a 50 day moving average of $41.42 and a 200-day moving average of $42.69. APi Group Corporation has a one year low of $33.40 and a one year high of $49.99.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating 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 business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $0.39 earnings per share. APi Group’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that APi Group Corporation will post 1.72 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on APG. Wells Fargo & Company initiated coverage on APi Group in a report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price objective on the stock. UBS Group set a $52.00 target price on APi Group in a research note on Monday, July 20th. Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Robert W. Baird set a $47.00 price target on APi Group in a research note on Friday, July 31st. Finally, Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. One 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 company. According to data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average price target of $52.57.

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.