Bessemer Group Inc. Grows Stake in APi Group Corporation $APG

Bessemer Group Inc. boosted its position in shares of APi Group Corporation (NYSE:APG) by 72.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,960,278 shares of the company’s stock after purchasing an additional 2,077,705 shares during the quarter. Bessemer Group Inc.’s holdings in APi Group were worth $170,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bares Capital Management Inc. purchased a new stake in APi Group during the 2nd quarter valued at $30,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of APi Group during the third quarter valued at $31,000. Root Financial Partners LLC purchased a new position in APi Group in the 3rd quarter worth about $32,000. Cullen Frost Bankers Inc. lifted its stake in APi Group by 2,620.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock valued at $37,000 after acquiring an additional 1,048 shares during the period. Finally, Whittier Trust Co. boosted its holdings in shares of APi Group by 49.9% during the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Insider Transactions at APi Group

In related news, Director Anthony E. Malkin acquired 3,000 shares of APi Group stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $277,060. This represents a 75.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 7,000 shares of company stock worth $275,720. Company insiders own 17.00% of the company’s stock.

APi Group Trading Down 0.4%

Shares of APi Group stock opened at $42.17 on Thursday. The company has a fifty day moving average of $40.41 and a 200 day moving average of $37.14. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $43.75. The company has a market capitalization of $17.54 billion, a P/E ratio of 115.01 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Truist Financial upped their price objective on APi Group from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. UBS Group set a $49.00 target price on APi Group and gave the stock a “buy” rating in a research report on Thursday, January 15th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Barclays raised their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.24.

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.