Retirement Systems of Alabama Purchases 149,763 Shares of APi Group Corporation $APG

Retirement Systems of Alabama boosted its position in shares of APi Group Corporation (NYSE:APG) by 50.3% in the third quarter, Holdings Channel reports. The fund owned 447,521 shares of the company’s stock after acquiring an additional 149,763 shares during the period. Retirement Systems of Alabama’s holdings in APi Group were worth $15,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake 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 purchasing an additional 3,247,126 shares during the period. Norges Bank bought a new stake in APi Group during the 2nd quarter valued at approximately $154,149,000. Durable Capital Partners LP boosted its stake in APi Group by 19.2% during the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock valued at $542,333,000 after purchasing an additional 1,712,397 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in APi Group by 38.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,738,403 shares of the company’s stock valued at $162,954,000 after buying an additional 1,316,971 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in APi Group in the 3rd quarter worth approximately $45,203,000. 86.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Anthony E. Malkin acquired 3,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $277,060. The trade was a 75.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the transaction, the director directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 7,000 shares of company stock valued at $275,720 and sold 900,000 shares valued at $32,342,000. Corporate insiders own 17.00% of the company’s stock.

Analyst Ratings Changes

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

APi Group Price Performance

NYSE:APG opened at $41.85 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a 50-day moving average of $39.90 and a 200-day moving average of $36.85. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $43.26. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of 114.14 and a beta of 1.70.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, beating 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 business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities research analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

APi Group 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.