Rhumbline Advisers Purchases 315,811 Shares of APi Group Corporation $APG

Rhumbline Advisers boosted its position in APi Group Corporation (NYSE:APG) by 50.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 947,405 shares of the company’s stock after buying an additional 315,811 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of APi Group worth $32,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in APG. Bares Capital Management Inc. purchased a new stake in APi Group in the 2nd quarter worth about $30,000. Steigerwald Gordon & Koch Inc. bought a new position in APi Group during the third quarter worth about $31,000. Root Financial Partners LLC bought a new position in APi Group during the third quarter worth about $32,000. Cullen Frost Bankers Inc. increased its stake in shares of APi Group by 2,620.0% in the third quarter. Cullen Frost Bankers Inc. now owns 1,088 shares of the company’s stock worth $37,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of APi Group by 49.9% in the third quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APG has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Truist Financial raised their price target on APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. UBS Group set a $49.00 price target on APi Group and gave the company a “buy” rating in a research report on Thursday, January 15th. Barclays increased their price objective on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, CJS Securities raised APi Group to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, APi Group presently has an average rating of “Moderate Buy” and a consensus target price of $43.24.

Insiders Place Their Bets

In other news, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the acquisition, the director owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 7,000 shares of company stock valued at $275,720 in the last ninety days. Insiders own 17.00% of the company’s stock.

APi Group Price Performance

Shares of APi Group stock opened at $44.37 on Monday. The firm has a market capitalization of $18.45 billion, a PE ratio of 121.00 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $46.11. The business’s 50-day moving average price is $41.15 and its 200-day moving average price is $37.64.

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.