Louisiana State Employees Retirement System Acquires 35,100 Shares of APi Group Corporation $APG

Louisiana State Employees Retirement System lifted its holdings in shares of APi Group Corporation (NYSE:APG) by 51.7% during the third quarter, HoldingsChannel reports. The firm owned 103,000 shares of the company’s stock after acquiring an additional 35,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in APi Group were worth $3,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bares Capital Management Inc. bought a new stake in APi Group during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after buying an additional 1,078 shares during the period. Ulland Investment Advisors LLC increased its position in shares of APi Group by 41.5% during the second quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $77,000 after acquiring an additional 440 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of APi Group during the second quarter worth $98,000. Finally, GAMMA Investing LLC raised its holdings in shares of APi Group by 111.6% during the third quarter. GAMMA Investing LLC now owns 3,477 shares of the company’s stock worth $120,000 after acquiring an additional 1,834 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of research analyst reports. Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Citigroup reaffirmed a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of APi Group in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Finally, CJS Securities raised APi Group to a “strong-buy” rating in a 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 an average price target of $38.81.

APi Group Stock Down 1.1%

Shares of APG opened at $40.52 on Friday. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $41.59. The firm’s 50 day moving average is $38.48 and its 200-day moving average is $36.06. The stock has a market capitalization of $16.85 billion, a PE ratio of 110.51 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

Insider Activity

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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 900,000 shares of company stock worth $32,342,000. Corporate insiders own 17.00% of the company’s stock.

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.