Granite Investment Partners LLC Has $2.42 Million Position in APi Group Corporation $APG

Granite Investment Partners LLC lessened its holdings in APi Group Corporation (NYSE:APG) by 50.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,284 shares of the company’s stock after selling 71,799 shares during the period. Granite Investment Partners LLC’s holdings in APi Group were worth $2,416,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in APi Group by 49.6% during 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 in the last quarter. Durable Capital Partners LP increased 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 acquiring an additional 1,712,397 shares during the last quarter. State Street Corp lifted its holdings in shares of 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. Findlay Park Partners LLP grew its stake in shares of APi Group by 3.4% in the 2nd quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock valued at $340,332,000 after buying an additional 220,700 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of APi Group by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after buying an additional 2,077,705 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at APi Group

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the purchase, the director directly owned 7,000 shares in the company, valued at $277,060. This trade represents a 75.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 7,000 shares of company stock worth $275,720. 17.00% of the stock is currently owned by insiders.

APi Group Stock Down 1.2%

APi Group stock opened at $44.10 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.11. The firm has a fifty day moving average price of $41.76 and a two-hundred day moving average price of $38.03. The firm has a market cap of $18.34 billion, a price-to-earnings ratio of 120.29 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APG. Citigroup reaffirmed a “buy” rating and set a $49.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Monday, January 12th. Truist Financial raised their price target on shares of APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. UBS Group set a $49.00 target price on shares of APi Group and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. 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 stock. Based on data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

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.