Thrivent Financial for Lutherans Invests $5.37 Million in APi Group Corporation $APG

Thrivent Financial for Lutherans acquired a new stake in APi Group Corporation (NYSE:APG) in the second quarter, Holdings Channel.com reports. The firm acquired 105,169 shares of the company’s stock, valued at approximately $5,369,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Durable Capital Partners LP boosted its holdings in APi Group by 78.0% in the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company’s stock valued at $318,663,000 after purchasing an additional 3,903,632 shares during the period. State Street Corp raised its position in shares of APi Group by 83.2% in the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after buying an additional 3,247,126 shares in the last quarter. Norges Bank bought a new stake in APi Group during the second quarter valued at $154,149,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in APi Group by 114.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company’s stock valued at $100,227,000 after buying an additional 1,495,268 shares during the period. Finally, Select Equity Group L.P. grew its position in APi Group by 36.9% during the first quarter. Select Equity Group L.P. now owns 4,521,352 shares of the company’s stock worth $161,684,000 after buying an additional 1,217,554 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on APG shares. Barclays raised their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Citigroup reaffirmed a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of APi Group in a research note on Monday, December 8th. Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research report on Monday, December 8th. One 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.81.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the sale, the director owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 900,000 shares of company stock valued at $32,342,000. Insiders own 17.00% of the company’s stock.

APi Group Price Performance

Shares of APi Group stock opened at $38.88 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $40.58. The company has a fifty day moving average of $37.08 and a 200-day moving average of $35.35. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 106.04 and a beta of 1.72.

APi Group (NYSE:APG) last issued its earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Equities research analysts expect that APi Group Corporation will post 1.83 EPS for the current 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.