Royce & Associates LP Buys 242,276 Shares of APi Group Corporation $APG

Royce & Associates LP lifted its stake in shares of APi Group Corporation (NYSE:APG) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 726,829 shares of the company’s stock after purchasing an additional 242,276 shares during the period. Royce & Associates LP owned 0.17% of APi Group worth $24,981,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after purchasing an additional 11,644,990 shares during the period. Durable Capital Partners LP boosted its holdings in shares of APi Group by 19.2% during 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 period. Findlay Park Partners LLP grew its position in shares of APi Group by 13.1% in the third quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock valued at $259,152,000 after purchasing an additional 873,420 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of APi Group by 49.5% during the third quarter. Artisan Partners Limited Partnership now owns 7,292,986 shares of the company’s stock worth $250,660,000 after purchasing an additional 2,414,841 shares during the period. Finally, State Street Corp increased its stake in shares of APi Group by 83.2% during the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after purchasing an additional 3,247,126 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average cost of $39.58 per share, with a total value of $118,740.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at $277,060. This trade represents a 75.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Louis Lambert sold 22,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $44.71, for a total transaction of $983,620.00. Following the completion of the transaction, the senior vice president directly owned 16,148 shares of the company’s stock, valued at approximately $721,977.08. The trade was a 57.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.00% of the company’s stock.

APi Group Trading Down 1.6%

Shares of APG opened at $44.41 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.89. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of -58.69 and a beta of 1.69. The business’s fifty day moving average is $42.25 and its 200-day moving average is $38.30.

APi Group (NYSE:APG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm posted $0.51 earnings per share. APi Group’s revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APG has been the subject of several recent research reports. CJS Securities upgraded APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Citigroup upped their price target on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group boosted their price objective on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial lifted their price target on shares of APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

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.