Norden Group LLC Makes New Investment in APi Group Corporation $APG

Norden Group LLC bought a new stake in APi Group Corporation (NYSE:APG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,124 shares of the company’s stock, valued at approximately $655,000.

A number of other institutional investors have also recently made changes to their positions in APG. Vanguard Group Inc. raised its stake in APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. Durable Capital Partners LP boosted its position in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares during the period. State Street Corp boosted its position in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after purchasing an additional 3,620,931 shares during the period. Invesco Ltd. increased its stake in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after purchasing an additional 3,535,682 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of APi Group in the second quarter valued at approximately $154,149,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Trading Down 2.1%

Shares of APi Group stock opened at $39.92 on Friday. The company’s 50-day moving average price is $42.73 and its 200-day moving average price is $39.15. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $46.89. The company has a market cap of $17.22 billion, a price-to-earnings ratio of -52.75, a PEG ratio of 2.38 and a beta of 1.69.

APi Group (NYSE:APG) last posted its earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. APi Group’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities analysts expect that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APG has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price target on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Citigroup lifted their price objective on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. UBS Group increased their target price on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 72,546 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total transaction of $3,115,125.24. Following the completion of the transaction, the director directly owned 10,561,284 shares in the company, valued at $453,501,534.96. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin E. Franklin sold 3,000,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the transaction, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,682,000 shares of company stock worth $152,333,385. Corporate insiders own 17.00% of the company’s stock.

APi Group Profile

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.