Arizona State Retirement System Purchases 37,845 Shares of APi Group Corporation $APG

Arizona State Retirement System lifted its position in shares of APi Group Corporation (NYSE:APG) by 62.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,304 shares of the company’s stock after acquiring an additional 37,845 shares during the quarter. Arizona State Retirement System’s holdings in APi Group were worth $3,379,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in APi Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock worth $1,199,357,000 after purchasing an additional 453,543 shares during the last quarter. Durable Capital Partners LP raised its stake in shares of APi Group by 19.2% during the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after buying an additional 1,712,397 shares during the last quarter. State Street Corp boosted its stake in APi Group by 83.2% in the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after acquiring an additional 3,247,126 shares during the last quarter. Findlay Park Partners LLP boosted its stake in APi Group by 3.4% in the second quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock valued at $340,332,000 after acquiring an additional 220,700 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in APi Group by 11.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,878,145 shares of the company’s stock worth $249,029,000 after acquiring an additional 497,003 shares during the period. Institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

APG has been the topic of several recent research reports. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. UBS Group set a $49.00 target price on APi Group and gave the stock a “buy” rating in a report on Thursday, January 15th. Barclays upped their price target on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Citigroup reiterated a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. One research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.24.

Insider Activity

In related news, Director Anthony E. Malkin acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were acquired at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the acquisition, the director directly owned 7,000 shares in the company, valued at approximately $277,060. The trade was a 75.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 7,000 shares of company stock worth $275,720 over the last ninety days. 17.00% of the stock is owned by corporate insiders.

APi Group Price Performance

NYSE APG opened at $42.27 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 stock has a market cap of $17.58 billion, a price-to-earnings ratio of 115.28 and a beta of 1.70. The business has a 50 day simple moving average of $40.35 and a 200 day simple moving average of $37.11. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $43.75.

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.