Swiss National Bank Increases Position in APi Group Corporation $APG

Swiss National Bank grew its position in shares of APi Group Corporation (NYSE:APG) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 725,400 shares of the company’s stock after purchasing an additional 28,400 shares during the period. Swiss National Bank owned approximately 0.17% of APi Group worth $29,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its stake in APi Group by 4.0% during the 4th quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock worth $884,409,000 after acquiring an additional 887,729 shares in the last quarter. Durable Capital Partners LP grew its position in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares in the last quarter. Viking Global Investors LP increased its stake in APi Group by 6.7% during the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after purchasing an additional 768,759 shares during the period. State Street Corp lifted its position in shares of APi Group by 0.8% during the fourth quarter. State Street Corp now owns 10,863,164 shares of the company’s stock worth $415,625,000 after purchasing an additional 91,388 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of APi Group by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock worth $277,465,000 after purchasing an additional 624,529 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. UBS Group set a $52.00 target price on shares of APi Group in a report on Monday. Barclays restated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Truist Financial set a $55.00 price objective on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.17.

Insiders Place Their Bets

In other news, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 65,534 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the sale, the director directly owned 9,477,284 shares in the company, valued at $431,121,649.16. This trade represents a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,451,000 shares of company stock valued at $149,194,935 in the last three months. Corporate insiders own 18.70% of the company’s stock.

APi Group Trading Up 1.6%

Shares of NYSE:APG opened at $39.59 on Friday. APi Group Corporation has a 52 week low of $33.40 and a 52 week high of $49.99. The company’s 50 day moving average is $41.63 and its two-hundred day moving average is $42.78. The company has a market cap of $17.15 billion, a PE ratio of -55.75, a P/E/G ratio of 2.28 and a beta of 1.60. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts predict that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

About APi Group

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.