Teacher Retirement System of Texas Increases Stake in APi Group Corporation $APG

Teacher Retirement System of Texas raised its stake in APi Group Corporation (NYSE:APG) by 50.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,240,836 shares of the company’s stock after purchasing an additional 751,652 shares during the quarter. Teacher Retirement System of Texas owned 0.54% of APi Group worth $77,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in APi Group by 83.2% during the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after buying an additional 3,247,126 shares during the last quarter. Norges Bank purchased a new stake in shares of APi Group during the second quarter worth about $154,149,000. Durable Capital Partners LP grew its stake in shares of APi Group by 19.2% in the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after purchasing an additional 1,712,397 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of APi Group by 38.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,738,403 shares of the company’s stock worth $162,954,000 after purchasing an additional 1,316,971 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in APi Group during the 3rd quarter valued at approximately $45,203,000. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays upped their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Citigroup reaffirmed a “buy” rating and issued a $49.00 target price (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.24.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony E. Malkin purchased 3,000 shares of APi Group stock in a transaction dated Wednesday, December 10th. The shares were bought at an average price of $39.58 per share, with a total value of $118,740.00. Following the completion of the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This represents a 75.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 7,000 shares of company stock worth $275,720 and sold 900,000 shares worth $32,342,000. Insiders own 17.00% of the company’s stock.

APi Group Trading Up 0.0%

Shares of NYSE APG opened at $42.42 on Friday. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $43.26. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The firm has a 50-day moving average of $39.61 and a 200 day moving average of $36.66. The stock has a market cap of $17.64 billion, a P/E ratio of 115.69 and a beta of 1.70.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, sell-side analysts expect that APi Group Corporation will post 1.83 EPS 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.