Vanguard Group Inc. Has $1.21 Billion Stock Position in APi Group Corporation $APG

Vanguard Group Inc. raised its position in APi Group Corporation (NYSE:APG) by 49.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,138,767 shares of the company’s stock after buying an additional 11,644,990 shares during the period. Vanguard Group Inc. owned 8.45% of APi Group worth $1,207,719,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after acquiring an additional 3,247,126 shares in the last quarter. Norges Bank acquired a new position in APi Group in the second quarter worth $154,149,000. Bessemer Group Inc. boosted its stake in APi Group by 72.1% in the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after purchasing an additional 2,077,705 shares in the last quarter. Durable Capital Partners LP grew 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 purchasing an additional 1,712,397 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of APi Group by 38.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,738,403 shares of the company’s stock valued at $162,954,000 after buying an additional 1,316,971 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Up 0.5%

Shares of NYSE APG opened at $44.62 on Friday. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.11. The firm has a market capitalization of $18.56 billion, a P/E ratio of 121.69 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The company’s 50 day simple moving average is $41.66 and its 200 day simple moving average is $37.94.

Insider Buying and Selling at APi Group

In related news, Director Anthony E. Malkin purchased 3,000 shares of APi Group stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 7,000 shares of company stock valued at $275,720. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

APG has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Citigroup reissued a “buy” rating and set a $49.00 price target (up from $45.00) on shares of APi Group in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Barclays increased their price objective on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.24.

About APi Group

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.