Tema Etfs LLC Grows Holdings in APi Group Corporation $APG

by · The Markets Daily

Tema Etfs LLC boosted its position in shares of APi Group Corporation (NYSE:APG – Free Report) by 32.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 191,246 shares of the company’s stock after acquiring an additional 46,877 shares during the period. Tema Etfs LLC’s holdings in APi Group were worth $6,573,000 at the end of the most recent quarter.

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

Insider Activity

In related news, Director Anthony E. Malkin acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $277,060. This trade represents a 75.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 7,000 shares of company stock worth $275,720 and have sold 900,000 shares worth $32,342,000. 17.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APG has been the topic of several recent analyst reports. Barclays lifted their target price on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Citigroup restated a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of APi Group in a research report on Monday, December 8th. Zacks Research downgraded shares of APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.81.

View Our Latest Analysis on APi Group

APi Group Trading Up 3.5%

Shares of APG opened at $41.90 on Monday. The company’s fifty day moving average is $38.58 and its 200 day moving average is $36.15. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $41.93. The stock has a market capitalization of $17.42 billion, a PE ratio of 114.26 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

APi Group (NYSE:APG – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business earned $0.51 earnings per share. APi Group’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts expect that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

APi Group Profile

(Free Report)

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.

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