Versor Investments LP Makes New Investment in APi Group Corporation $APG

Versor Investments LP purchased a new position in shares of APi Group Corporation (NYSE:APG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,300 shares of the company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in APi Group by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company’s stock worth $581,073,000 after buying an additional 621,761 shares during the last quarter. Durable Capital Partners LP raised its position in APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company’s stock worth $318,663,000 after buying an additional 3,903,632 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company’s stock worth $241,997,000 after buying an additional 2,906,783 shares during the last quarter. Findlay Park Partners LLP raised its position in APi Group by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 6,445,948 shares of the company’s stock worth $230,507,000 after buying an additional 86,600 shares during the last quarter. Finally, Select Equity Group L.P. raised its position in APi Group by 36.9% during the 1st quarter. Select Equity Group L.P. now owns 4,521,352 shares of the company’s stock worth $161,684,000 after buying an additional 1,217,554 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $35.39 on Wednesday. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $37.04. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $14.72 billion, a PE ratio of 96.51 and a beta of 1.64. The stock’s 50-day moving average price is $34.88 and its 200-day moving average price is $33.20.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. APi Group has set its FY 2025 guidance at EPS. As a group, equities analysts expect that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 205,550 shares of APi Group stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $35.24, for a total value of $7,243,582.00. Following the sale, the director owned 7,968,167 shares of the company’s stock, valued at approximately $280,798,205.08. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin E. Franklin sold 1,200,000 shares of APi Group stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.64, for a total transaction of $41,568,000.00. Following the completion of the sale, the director directly owned 19,868,790 shares in the company, valued at $688,254,885.60. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,785,000 shares of company stock valued at $62,091,327. 17.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a research report on Thursday, October 30th. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Barclays increased their price target on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised APi Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $31.00 to $42.00 in a research report on Tuesday, July 15th. Finally, Citigroup increased their price target on APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.52.

About APi Group

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.