South Dakota Investment Council Boosts Holdings in APi Group Corporation $APG

South Dakota Investment Council raised its stake in shares of APi Group Corporation (NYSE:APG) by 172.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,455 shares of the company’s stock after buying an additional 79,455 shares during the quarter. South Dakota Investment Council’s holdings in APi Group were worth $4,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares in the last quarter. State Street Corp boosted its holdings in shares of APi Group by 83.2% during the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after purchasing an additional 3,247,126 shares during the last quarter. Norges Bank purchased a new position in shares of APi Group during the second quarter valued at about $154,149,000. Artisan Partners Limited Partnership increased its holdings in shares of APi Group by 49.5% in the third quarter. Artisan Partners Limited Partnership now owns 7,292,986 shares of the company’s stock worth $250,660,000 after purchasing an additional 2,414,841 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of APi Group by 72.1% in the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after buying an additional 2,077,705 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on APG shares. Truist Financial raised their price target on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays upped their price target on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Royal Bank Of Canada lifted their price objective on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Finally, Citigroup increased their price target on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

APi Group Price Performance

APi Group stock opened at $43.26 on Wednesday. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $46.89. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $42.43 and a 200-day moving average price of $38.42. The firm has a market capitalization of $18.66 billion, a PE ratio of -57.17, a price-to-earnings-growth ratio of 2.66 and a beta of 1.69.

APi Group (NYSE:APG) last posted its quarterly earnings data 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 net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other APi Group news, Director Anthony E. Malkin bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $277,060. This trade represents a 75.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Louis Lambert sold 22,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $44.71, for a total transaction of $983,620.00. Following the sale, the senior vice president directly owned 16,148 shares of the company’s stock, valued at $721,977.08. This represents a 57.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.00% of the stock is owned by insiders.

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.