APi Group Corporation $APG Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its position in shares of APi Group Corporation (NYSE:APG) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,850 shares of the company’s stock after acquiring an additional 24,950 shares during the period. New Mexico Educational Retirement Board’s holdings in APi Group were worth $2,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares in the last quarter. Durable Capital Partners LP increased its position in APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares in the last quarter. Viking Global Investors LP increased its position in APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after purchasing an additional 768,759 shares in the last quarter. State Street Corp raised its holdings in APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after buying an additional 3,620,931 shares during the period. Finally, Findlay Park Partners LLP raised its holdings in 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 buying an additional 873,420 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on APG. Truist Financial boosted their price objective 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. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Barclays upped their price target on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

Insider Activity at APi Group

In other APi Group news, Director Martin E. Franklin sold 3,000,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This represents a 12.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James E. Lillie sold 83,629 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the sale, the director owned 9,522,350 shares of the company’s stock, valued at $408,889,709. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,682,000 shares of company stock valued at $152,333,385. Corporate insiders own 17.00% of the company’s stock.

APi Group Stock Performance

APi Group stock opened at $41.21 on Friday. The firm has a market capitalization of $17.78 billion, a PE ratio of -54.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.69. APi Group Corporation has a one year low of $20.50 and a one year high of $46.89. The stock’s 50 day moving average price is $42.91 and its 200 day moving average price is $38.87. 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 (NYSE:APG) last issued its quarterly earnings data 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 net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company earned $0.51 earnings per share. APi Group’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that APi Group Corporation will post 1.83 EPS for the current fiscal year.

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.