KLP Kapitalforvaltning AS Has $2.38 Million Stake in APi Group Corporation $APG

KLP Kapitalforvaltning AS lifted its position in APi Group Corporation (NYSE:APG) by 61.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 69,300 shares of the company’s stock after buying an additional 26,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in APi Group were worth $2,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bares Capital Management Inc. acquired a new stake in APi Group in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of APi Group by 547.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after purchasing an additional 1,078 shares in the last quarter. Ulland Investment Advisors LLC lifted its stake in shares of APi Group by 41.5% in the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $77,000 after purchasing an additional 440 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in APi Group in the second quarter worth $98,000. Finally, GAMMA Investing LLC increased its position in 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 buying an additional 1,834 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony E. Malkin acquired 3,000 shares of APi Group stock in a transaction on Wednesday, December 10th. The stock was purchased at an average price of $39.58 per share, with a total value of $118,740.00. Following the transaction, the director directly owned 7,000 shares in the company, valued at approximately $277,060. This trade represents a 75.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 7,000 shares of company stock valued at $275,720 and have sold 900,000 shares valued at $32,342,000. 17.00% of the stock is currently owned by corporate insiders.

APi Group Stock Up 3.5%

APG opened at $41.90 on Friday. The business has a 50 day moving average of $38.58 and a 200-day moving average of $36.13. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 114.26 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 Corporation has a 1-year low of $20.50 and a 1-year high of $41.93.

APi Group (NYSE:APG) last announced its 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 net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. APi Group’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APG. Zacks Research downgraded APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Barclays increased their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Citigroup restated a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of APi Group in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. One equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.