Eagle Rock Investment Company LLC Boosts Stock Holdings in APi Group Corporation $APG

Eagle Rock Investment Company LLC raised its position in shares of APi Group Corporation (NYSE:APG) by 122.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 45,354 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in APi Group were worth $1,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in APG. Allianz Asset Management GmbH lifted its holdings in APi Group by 47.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after purchasing an additional 108,433 shares in the last quarter. Bessemer Group Inc. grew its holdings 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 worth $170,485,000 after buying an additional 2,077,705 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of 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 in the last quarter. Truist Financial Corp raised its position in shares of APi Group by 29.5% in the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after buying an additional 43,202 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its position in shares of APi Group by 59.6% in the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock valued at $3,874,000 after buying an additional 42,111 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Trading Down 2.1%

Shares of APG stock opened at $39.92 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $46.89. The company’s 50-day moving average price is $42.73 and its 200-day moving average price is $39.12. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of -52.75, a PEG ratio of 2.43 and a beta of 1.69.

APi Group (NYSE:APG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $0.51 earnings per share. APi Group’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that APi Group Corporation will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APG shares. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Royal Bank Of Canada increased their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Citigroup raised their target price on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Truist Financial upped their price target on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.57.

Insider Activity

In other news, Director James E. Lillie sold 83,629 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total transaction of $3,591,029.26. Following the completion of the sale, the director owned 9,522,350 shares in the company, valued at $408,889,709. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This represents a 12.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,682,000 shares of company stock valued at $152,333,385 in the last 90 days. Company insiders own 17.00% of the company’s stock.

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.