APi Group Corporation $APG Holdings Boosted by Invesco Ltd.

Invesco Ltd. raised its position in shares of APi Group Corporation (NYSE:APG) by 39.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,574,220 shares of the company’s stock after purchasing an additional 449,007 shares during the quarter. Invesco Ltd.’s holdings in APi Group were worth $80,364,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of APG. PharVision Advisers LLC purchased a new stake in APi Group in the 2nd quarter worth about $235,000. Granite Investment Partners LLC lifted its position in shares of APi Group by 28.6% in the second quarter. Granite Investment Partners LLC now owns 142,083 shares of the company’s stock worth $7,253,000 after purchasing an additional 31,624 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of APi Group during the second quarter worth approximately $13,932,000. Quantbot Technologies LP purchased a new position in APi Group during the second quarter valued at approximately $1,816,000. Finally, Spyglass Capital Management LLC grew its position in APi Group by 26.2% during the second quarter. Spyglass Capital Management LLC now owns 2,524,696 shares of the company’s stock valued at $128,886,000 after purchasing an additional 523,955 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Trading Up 5.9%

APi Group stock opened at $39.93 on Thursday. APi Group Corporation has a one year low of $20.50 and a one year high of $40.07. The company’s fifty day moving average price is $36.46 and its two-hundred day moving average price is $34.98. 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 has a market capitalization of $16.61 billion, a price-to-earnings ratio of 108.90 and a beta of 1.72.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. On average, analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reissued a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of APi Group in a research note on Monday. Zacks Research cut APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research note on Monday. Finally, Barclays raised their price target on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 900,000 shares of company stock worth $32,342,000 in the last 90 days. Company insiders own 17.00% of the company’s stock.

About APi Group

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.