How Does Chubb Interaction Help APi Group (APG) for Further Growth?

Tourlite Capital Management, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class returned 1.1% for Q4 2023 and 8.8% for the year. Since its inception in April 2022, the fund returned 14.3% compared to 8.4%, and 0.5% returns for the S&P 500 and Russell 2000 indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Tourlite Capital Management featured stocks such as APi Group Corporation (NYSE:APG) in the fourth quarter 2023 investor letter. Headquartered in New Brighton, Minnesota, APi Group Corporation (NYSE:APG) is a safety, specialty, and industrial services provider. On February 13, 2024, APi Group Corporation (NYSE:APG) stock closed at $34.15 per share. One-month return of APi Group Corporation (NYSE:APG) was 8.59%, and its shares gained 55.30% of their value over the last 52 weeks. APi Group Corporation (NYSE:APG) has a market capitalization of $8.316 billion.

Tourlite Capital Management made the following regarding APi Group Corporation (NYSE:APG) in its fourth quarter 2023 investor letter:

APi Group Corporation (NYSE:APG) continues to be an attractive business with a well-aligned management team. Despite operational improvements, its FCF yield is still twice that of its peers, even with a higher proportion of recurring revenue. The ongoing integration of Chubb and the emphasis on expanding their recurring, higher-margin services revenue provides room for further margin expansion. We believe the further integration of Chubb continues to present a meaningful catalyst for share appreciation this year.”

A worker in safety gear and an organized shelf of tools and woven storage bags.

APi Group Corporation (NYSE:APG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held APi Group Corporation (NYSE:APG) at the end of third quarter which was 38 in the previous quarter.

We discussed APi Group Corporation (NYSE:APG) in another article and shared Greystone Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.