Schwartz Investment Counsel Inc. Has $74.75 Million Stock Position in APi Group Corporation $APG

Schwartz Investment Counsel Inc. decreased its stake in shares of APi Group Corporation (NYSE:APG) by 35.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,844,652 shares of the company’s stock after selling 1,000,000 shares during the quarter. APi Group accounts for 2.7% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 8th largest position. Schwartz Investment Counsel Inc.’s holdings in APi Group were worth $74,745,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APG. Norges Bank acquired a new position in APi Group in the 4th quarter valued at approximately $181,066,000. Durable Capital Partners LP increased its position in shares of APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the period. State Street Corp raised its stake in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares in the last quarter. Invesco Ltd. raised its stake in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in APi Group in the fourth quarter worth $132,125,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anthony E. Malkin sold 7,000 shares of APi Group 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,451,000 shares of company stock worth $149,194,935. 18.70% of the stock is owned by company insiders.

APi Group Price Performance

Shares of APi Group stock opened at $41.37 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of -58.27, a P/E/G ratio of 2.42 and a beta of 1.60. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99. The firm’s 50-day moving average price is $42.32 and its two-hundred day moving average price is $42.72.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. APi Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities analysts predict that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Robert W. Baird set a $52.00 price target on shares of APi Group in a research note on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays reissued an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Truist Financial set a $55.00 price target on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, UBS Group raised their price target on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

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.