Schwartz Investment Counsel Inc. Sells 250,000 Shares of APi Group Corporation $APG

Schwartz Investment Counsel Inc. cut its holdings in APi Group Corporation (NYSE:APG) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,844,652 shares of the company’s stock after selling 250,000 shares during the quarter. APi Group makes up approximately 3.8% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 4th largest holding. Schwartz Investment Counsel Inc.’s holdings in APi Group were worth $108,836,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. HighPoint Advisor Group LLC grew its position in shares of APi Group by 12.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 18,104 shares of the company’s stock valued at $693,000 after purchasing an additional 2,041 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in shares of APi Group by 65.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 24,932 shares of the company’s stock valued at $954,000 after purchasing an additional 9,888 shares during the last quarter. Advisor OS LLC boosted its position in APi Group by 5.5% during the fourth quarter. Advisor OS LLC now owns 13,878 shares of the company’s stock worth $531,000 after acquiring an additional 727 shares during the last quarter. Ethic Inc. boosted its position in APi Group by 9.9% during the fourth quarter. Ethic Inc. now owns 79,232 shares of the company’s stock worth $3,031,000 after acquiring an additional 7,145 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in APi Group by 10.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 8,169 shares of the company’s stock worth $313,000 after acquiring an additional 752 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total value of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares in the company, valued at approximately $426,850,249.14. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the transaction, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. The trade was a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,126,000 shares of company stock worth $217,071,030. 18.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird set a $52.00 target price on shares of APi Group in a research report on Friday, May 1st. UBS Group raised their target price on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Citigroup restated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group Stock Down 2.0%

Shares of NYSE APG opened at $43.22 on Wednesday. The firm has a market cap of $18.73 billion, a P/E ratio of -60.88, a price-to-earnings-growth ratio of 2.59 and a beta of 1.67. The firm’s 50 day moving average price is $43.69 and its 200 day moving average price is $41.37. APi Group Corporation has a 1 year low of $30.00 and a 1 year high of $49.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts anticipate that APi Group Corporation will post 1.7 earnings per share for the current year.

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.