APi Group Co. (NYSE:APG) Stake Boosted by Durable Capital Partners LP

Durable Capital Partners LP boosted its holdings in APi Group Co. (NYSE:APG) by 199.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,007,539 shares of the company’s stock after acquiring an additional 3,337,468 shares during the period. APi Group accounts for approximately 1.5% of Durable Capital Partners LP’s investment portfolio, making the stock its 26th biggest holding. Durable Capital Partners LP’s holdings in APi Group were worth $180,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in APi Group during the 4th quarter valued at approximately $34,000. First Horizon Advisors Inc. grew its stake in APi Group by 53.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after buying an additional 414 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in APi Group by 2,058.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock valued at $82,000 after buying an additional 217,071 shares during the last quarter. Finally, R Squared Ltd bought a new stake in APi Group in the fourth quarter valued at $85,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at APi Group

In other APi Group news, Director James E. Lillie sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the transaction, the director now directly owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APG. UBS Group dropped their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of APi Group in a research note on Thursday, February 27th. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, January 14th. Citigroup lowered their price target on APi Group from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird lifted their target price on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

APi Group Stock Down 0.9 %

Shares of APi Group stock opened at $42.47 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. APi Group Co. has a 12-month low of $30.76 and a 12-month high of $43.00. The firm has a market capitalization of $11.73 billion, a PE ratio of -21.56 and a beta of 1.54. The stock’s fifty day moving average is $36.48 and its 200-day moving average is $36.87.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. APi Group had a return on equity of 33.89% and a net margin of 3.01%. APi Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. Equities analysts anticipate that APi Group Co. will post 1.83 earnings per share for the current year.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.