Geneva Capital Management LLC Purchases New Stake in APi Group Corporation $APG

Geneva Capital Management LLC purchased a new position in APi Group Corporation (NYSE:APG) in the third quarter, HoldingsChannel.com reports. The firm purchased 151,819 shares of the company’s stock, valued at approximately $5,218,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in APi Group by 665.1% during the third quarter. BNP Paribas Financial Markets now owns 483,367 shares of the company’s stock valued at $16,613,000 after purchasing an additional 420,189 shares during the last quarter. Magnetar Financial LLC bought a new stake in APi Group in the third quarter worth about $5,474,000. Capital Research Global Investors grew its position in APi Group by 18.6% in the third quarter. Capital Research Global Investors now owns 6,500,638 shares of the company’s stock worth $223,427,000 after buying an additional 1,017,275 shares during the last quarter. Capital World Investors boosted its position in shares of APi Group by 60.2% in the 3rd quarter. Capital World Investors now owns 1,580,877 shares of the company’s stock valued at $54,335,000 after purchasing an additional 593,969 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of APi Group by 55.2% in the third quarter. Legal & General Group Plc now owns 665,550 shares of the company’s stock worth $22,875,000 after buying an additional 236,805 shares during the period. Institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of research reports. Truist Financial upped their price target on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Citigroup boosted their target price on shares of APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Barclays raised their target price on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Royal Bank Of Canada upped their price objective on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, CJS Securities raised shares of 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

APi Group Trading Up 0.1%

Shares of APi Group stock opened at $41.63 on Thursday. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $46.89. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of -55.01, a P/E/G ratio of 2.48 and a beta of 1.69. The business has a fifty day simple moving average of $42.79 and a two-hundred day simple moving average of $38.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling at APi Group

In related news, Director Ian G. H. Ashken sold 72,546 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total transaction of $3,115,125.24. Following the sale, the director owned 10,561,284 shares in the company, valued at $453,501,534.96. The trade was a 0.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Louis Lambert sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total transaction of $983,620.00. Following the sale, the senior vice president directly owned 16,148 shares in the company, valued at $721,977.08. The trade was a 57.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 682,000 shares of company stock valued at $29,693,385. 17.00% of the stock is currently owned by corporate insiders.

APi Group Company 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.