Bank of Montreal Can Acquires New Holdings in APi Group Co. (NYSE:APG)

Bank of Montreal Can acquired a new stake in shares of APi Group Co. (NYSE:APG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 163,912 shares of the company’s stock, valued at approximately $5,514,000.

Several other hedge funds also recently bought and sold shares of APG. Swedbank AB lifted its position in APi Group by 21.1% during the second quarter. Swedbank AB now owns 1,860,000 shares of the company’s stock valued at $69,992,000 after purchasing an additional 324,000 shares during the last quarter. GSA Capital Partners LLP bought a new stake in APi Group during the third quarter valued at approximately $881,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of APi Group in the 3rd quarter worth approximately $2,586,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of APi Group by 60.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock worth $3,290,000 after acquiring an additional 37,531 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of APi Group by 3,622.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock worth $148,000 after acquiring an additional 382,012 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the sale, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the sale, the director now directly owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.20% of the company’s stock.

APi Group Stock Performance

Shares of APi Group stock opened at $37.65 on Wednesday. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of -19.11 and a beta of 1.55. The firm’s 50-day moving average is $34.80 and its 200 day moving average is $35.56. APi Group Co. has a 1 year low of $29.98 and a 1 year high of $39.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. Sell-side analysts anticipate that APi Group Co. will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on APG. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of APi Group in a report on Friday, November 1st. Barclays upped their price target on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their price target on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.