Federated Hermes Inc. Grows Stake in APi Group Corporation $APG

Federated Hermes Inc. increased its holdings in APi Group Corporation (NYSE:APG) by 54.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 99,082 shares of the company’s stock after acquiring an additional 35,045 shares during the quarter. Federated Hermes Inc.’s holdings in APi Group were worth $3,405,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in APi Group in the 1st quarter worth about $650,000. Goldman Sachs Group Inc. increased its position in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after purchasing an additional 75,490 shares during the last quarter. 111 Capital purchased a new stake in APi Group in the second quarter valued at approximately $340,000. Knights of Columbus Asset Advisors LLC purchased a new stake in APi Group in the second quarter valued at approximately $718,000. Finally, KLP Kapitalforvaltning AS lifted its position in APi Group by 1.2% during the second quarter. KLP Kapitalforvaltning AS now owns 43,000 shares of the company’s stock valued at $2,195,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 7,000 shares of company stock valued at $275,720. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Barclays raised their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Citigroup restated a “buy” rating and issued a $49.00 target price (up previously from $45.00) on shares of APi Group in a research report on Monday, January 12th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.24.

APi Group Price Performance

Shares of APi Group stock opened at $42.27 on Wednesday. The business has a 50 day moving average of $40.35 and a 200 day moving average of $37.11. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $43.75. The company has a market cap of $17.58 billion, a PE ratio of 115.28 and a beta of 1.70. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84.

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.