Quantinno Capital Management LP Purchases 30,967 Shares of APi Group Corporation $APG

Quantinno Capital Management LP raised its position in shares of APi Group Corporation (NYSE:APG) by 58.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,197 shares of the company’s stock after buying an additional 30,967 shares during the period. Quantinno Capital Management LP’s holdings in APi Group were worth $3,412,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of APi Group during the fourth quarter valued at about $181,066,000. Durable Capital Partners LP grew its stake in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares during the last quarter. State Street Corp increased its holdings in APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the period. Invesco Ltd. raised its position in APi Group by 224.6% during the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in APi Group during the 4th quarter valued at approximately $132,125,000. Institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on APG shares. Truist Financial set a $55.00 price objective on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. UBS Group set a $52.00 target price on APi Group in a report on Monday, July 20th. Robert W. Baird set a $47.00 price target on APi Group in a research note on Friday, July 31st. Wells Fargo & Company began coverage on shares of APi Group in a research report on Tuesday. They set an “overweight” rating and a $53.00 price objective on the stock. Finally, Barclays restated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.57.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 214,928 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the completion of the transaction, the director owned 9,262,356 shares of the company’s stock, valued at approximately $369,660,627.96. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director directly owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,667,000 shares of company stock valued at $110,810,972. Insiders own 18.70% of the company’s stock.

APi Group Trading Up 1.2%

NYSE APG opened at $41.76 on Friday. The firm has a market capitalization of $18.04 billion, a PE ratio of -62.32, a P/E/G ratio of 2.43 and a beta of 1.60. The stock’s 50 day moving average is $41.28 and its 200 day moving average is $42.66. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts forecast that APi Group Corporation will post 1.72 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.