Should You Hold APi Group Corporation (APG) for the Long Term?

ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth benchmark. On an absolute basis, the strategy gained in nine of the 10 sectors it was invested in the quarter. Industrials, health care, and consumer discretionary sectors were the leading contributors while communication services detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge SMID Cap Growth Strategy highlighted stocks like APi Group Corporation (NYSE:APG) in the Q4 2022 investor letter. Headquartered in New Brighton, Minnesota, APi Group Corporation (NYSE:APG) is a safety, specialty, and industrial services provider. On March 2, 2023, APi Group Corporation (NYSE:APG) stock closed at $23.46 per share. One-month return of APi Group Corporation (NYSE:APG) was 5.20%, and its shares gained 19.21% of their value over the last 52 weeks. APi Group Corporation (NYSE:APG) has a market capitalization of $5.487 billion.

ClearBridge SMID Cap Growth Strategy made the following comment about APi Group Corporation (NYSE:APG) in its Q4 2022 investor letter:

“Industrials was another area of weakness through 2022 that saw improvement to close the year. APi Group Corporation (NYSE:APG), a provider of safety, specialty, and industrial services, saw its shares rise on better than expected revenue in its latest quarter. The rebound obviates the overblown investor pessimism surrounding increased leverage from its acquisition of Chubb Fire & Security, where synergies should continue to improve the company’s cash flow generation.”

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APi Group Corporation (NYSE:APG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held APi Group Corporation (NYSE:APG) at the end of the fourth quarter which was 35 in the previous quarter.

We discussed APi Group Corporation (NYSE:APG) in another article and shared Greenhaven Road Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.