Friedenthal Financial Purchases New Holdings in APi Group Corporation $APG

Friedenthal Financial acquired a new position in APi Group Corporation (NYSE:APG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,819 shares of the company’s stock, valued at approximately $956,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of APi Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock valued at $1,199,357,000 after buying an additional 453,543 shares during the last quarter. Durable Capital Partners LP boosted its holdings in APi Group by 19.2% during the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock valued at $542,333,000 after acquiring an additional 1,712,397 shares during the period. State Street Corp grew its position in APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after acquiring an additional 3,247,126 shares during the last quarter. Findlay Park Partners LLP increased its stake in APi Group by 3.4% in the second quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock worth $340,332,000 after purchasing an additional 220,700 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in shares of APi Group by 11.3% during the second quarter. Artisan Partners Limited Partnership now owns 4,878,145 shares of the company’s stock worth $249,029,000 after purchasing an additional 497,003 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APG. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research note on Tuesday. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Citigroup restated a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of APi Group in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, APi Group has an average rating of “Moderate Buy” and an average target price of $38.81.

APi Group Price Performance

Shares of APG opened at $39.38 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a 50 day moving average price of $37.27 and a 200-day moving average price of $35.50. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $40.58. The stock has a market capitalization of $16.38 billion, a PE ratio of 107.39 and a beta of 1.72.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. APi Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Equities analysts predict that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 900,000 shares of company stock valued at $32,342,000. Company insiders own 17.00% of the company’s stock.

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.