South Dakota Investment Council Raises Stock Position in APi Group Corporation $APG

South Dakota Investment Council grew its stake in shares of APi Group Corporation (NYSE:APG) by 172.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,455 shares of the company’s stock after acquiring an additional 79,455 shares during the period. South Dakota Investment Council’s holdings in APi Group were worth $4,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. increased its holdings in APi Group by 49.9% during the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares during the period. Nisa Investment Advisors LLC grew its position in shares of APi Group by 50.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after buying an additional 425 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of APi Group by 105.7% during the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares in the last quarter. MAI Capital Management increased its stake in shares of APi Group by 78.6% during the third quarter. MAI Capital Management now owns 1,166 shares of the company’s stock valued at $40,000 after buying an additional 513 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of APi Group by 9.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,941 shares of the company’s stock valued at $303,000 after acquiring an additional 521 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG stock opened at $43.26 on Wednesday. The business’s fifty day simple moving average is $42.43 and its 200-day simple moving average is $38.42. The company has a market cap of $18.66 billion, a PE ratio of -57.17, a PEG ratio of 2.66 and a beta of 1.69. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $46.89.

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

Insider Activity

In related news, SVP Louis Lambert sold 22,000 shares of APi Group stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $44.71, for a total value of $983,620.00. Following the completion of the sale, the senior vice president directly owned 16,148 shares in the company, valued at $721,977.08. This trade represents a 57.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony E. Malkin bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the transaction, the director owned 7,000 shares in the company, valued at $277,060. The trade was a 75.00% increase in their position. The SEC filing for this purchase provides additional information. 17.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on APG shares. UBS Group increased their target price on shares of APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays upped their target price on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. CJS Securities upgraded APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Royal Bank Of Canada upped their price objective on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.