APi Group Corporation $APG Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in APi Group Corporation (NYSE:APG) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,457,638 shares of the company’s stock after purchasing an additional 1,154,344 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.65% of APi Group worth $442,284,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in APG. ACR Alpine Capital Research LLC grew its stake in APi Group by 15.3% during the 3rd quarter. ACR Alpine Capital Research LLC now owns 76,541 shares of the company’s stock worth $2,954,000 after buying an additional 10,183 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in APi Group by 8.7% during the third quarter. Kestra Advisory Services LLC now owns 18,090 shares of the company’s stock worth $698,000 after purchasing an additional 1,443 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new stake in APi Group in the third quarter worth approximately $538,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in APi Group by 31.3% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 47,400 shares of the company’s stock valued at $1,830,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Choreo LLC boosted its stake in APi Group by 5.4% during the 3rd quarter. Choreo LLC now owns 100,993 shares of the company’s stock valued at $3,898,000 after purchasing an additional 5,154 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Trading Up 1.3%

Shares of NYSE:APG opened at $40.87 on Friday. The company has a market cap of $17.38 billion, a P/E ratio of -64.87, a P/E/G ratio of 1.73 and a beta of 1.57. The stock’s 50-day moving average is $39.87 and its 200-day moving average is $41.94. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.12 and a current ratio of 1.18. APi Group Corporation has a 52-week low of $35.16 and a 52-week high of $49.99.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. APi Group had a return on equity of 38.31% and a net margin of 4.12%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities research analysts predict that APi Group Corporation will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on APG shares. UBS Group set a $52.00 price target on shares of APi Group in a research report on Monday, July 20th. Citigroup increased their target price on APi Group from $55.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 30th. Wells Fargo & Company raised their price target on shares of APi Group from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. JPMorgan Chase & Co. lifted their price objective on APi Group from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Truist Financial set a $58.00 price target on APi Group and gave the stock a “buy” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $54.67.

About APi Group

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities.

The company’s services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.

APi Group traces its roots to a pipe installation business established in Minnesota in 1926.