Bessemer Group Inc. lifted its stake in shares of APi Group Corporation (NYSE:APG – Free Report) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 4,993,668 shares of the company’s stock after buying an additional 33,390 shares during the period. Bessemer Group Inc.’s holdings in APi Group were worth $191,058,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after purchasing an additional 11,644,990 shares during the period. Durable Capital Partners LP raised its position in shares of 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 during the period. Viking Global Investors LP raised its position in shares of 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 during the period. State Street Corp raised its position in shares of APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after purchasing an additional 3,620,931 shares during the period. Finally, Findlay Park Partners LLP raised its position in shares of APi Group by 13.1% during the 3rd quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock worth $259,152,000 after purchasing an additional 873,420 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.
APi Group Stock Performance
Shares of NYSE APG opened at $44.11 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of -62.12, a PEG ratio of 2.54 and a beta of 1.67. The stock’s fifty day simple moving average is $43.68 and its 200 day simple moving average is $41.50. APi Group Corporation has a 52-week low of $30.00 and a 52-week high of $49.99.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on APG. Robert W. Baird set a $52.00 price target on APi Group in a research report on Friday, May 1st. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Citigroup restated a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.14.
Check Out Our Latest Stock Analysis on APG
Insider Buying and Selling
In related news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the transaction, the director directly owned 9,296,811 shares in the company, valued at $417,147,909.57. The trade was a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,126,000 shares of company stock worth $217,071,030 in the last three months. 18.70% of the stock is currently owned by 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.
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