Fmr LLC Increases Stock Position in APi Group Co. (NYSE:APG)

Fmr LLC lifted its position in shares of APi Group Co. (NYSE:APG) by 106.1% during the third quarter, Holdings Channel reports. The firm owned 14,511 shares of the company’s stock after acquiring an additional 7,469 shares during the period. Fmr LLC’s holdings in APi Group were worth $479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new position in shares of APi Group in the 3rd quarter worth about $26,000. Avior Wealth Management LLC purchased a new position in APi Group in the third quarter valued at approximately $33,000. Strategic Financial Concepts LLC lifted its stake in APi Group by 3,622.0% in the second quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock valued at $148,000 after purchasing an additional 382,012 shares during the last quarter. SG Americas Securities LLC bought a new position in APi Group during the third quarter valued at $165,000. Finally, KBC Group NV raised its stake in shares of APi Group by 14.8% in the third quarter. KBC Group NV now owns 5,601 shares of the company’s stock valued at $185,000 after buying an additional 721 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Down 4.5 %

APG opened at $37.04 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. APi Group Co. has a one year low of $30.26 and a one year high of $40.89. The firm has a market capitalization of $10.18 billion, a P/E ratio of -18.80 and a beta of 1.55. The company has a fifty day moving average price of $36.08 and a 200-day moving average price of $35.76.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned $0.48 earnings per share. APi Group’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other APi Group news, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the completion of the sale, the director now directly owns 1,134,635 shares in the company, valued at $41,958,802.30. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of APi Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the transaction, the director now owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. 18.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APG. Citigroup lifted their price objective on APi Group from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Robert W. Baird upped their price target on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. William Blair reiterated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Finally, Barclays increased their target price on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $43.43.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.