New Mexico Educational Retirement Board Boosts Stock Position in APi Group Corporation $APG

New Mexico Educational Retirement Board raised its holdings in APi Group Corporation (NYSE:APG) by 50.0% during the third quarter, HoldingsChannel.com reports. The firm owned 74,850 shares of the company’s stock after buying an additional 24,950 shares during the period. New Mexico Educational Retirement Board’s holdings in APi Group were worth $2,573,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allianz Asset Management GmbH boosted its stake in APi Group by 47.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after acquiring an additional 108,433 shares during the last quarter. Bessemer Group Inc. increased its position in shares of APi Group by 72.1% in the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after purchasing an additional 2,077,705 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of APi Group by 48.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock valued at $23,172,000 after purchasing an additional 220,551 shares in the last quarter. Truist Financial Corp raised its stake in shares of APi Group by 29.5% in the 3rd quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after purchasing an additional 43,202 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its position in shares of APi Group by 59.6% during the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock worth $3,874,000 after purchasing an additional 42,111 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling at APi Group

In other news, Director Ian G. H. Ashken sold 72,546 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total transaction of $3,115,125.24. Following the completion of the transaction, the director owned 10,561,284 shares of the company’s stock, valued at approximately $453,501,534.96. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Martin E. Franklin sold 3,000,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the transaction, the director owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This represents a 12.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,682,000 shares of company stock worth $152,333,385. 17.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of research reports. Truist Financial lifted their price target on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Citigroup lifted their target price on APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada boosted their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, CJS Securities raised APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One investment 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

APi Group Stock Performance

Shares of APG stock opened at $41.21 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $42.91 and a two-hundred day moving average of $38.87. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89. The company has a market cap of $17.78 billion, a P/E ratio of -54.46, a PEG ratio of 2.45 and a beta of 1.69.

APi Group (NYSE:APG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

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.