Norges Bank Makes New $181.07 Million Investment in APi Group Corporation $APG

Norges Bank bought a new position in APi Group Corporation (NYSE:APG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,732,517 shares of the company’s stock, valued at approximately $181,066,000. Norges Bank owned 1.14% of APi Group at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in APi Group in the fourth quarter worth approximately $27,000. Clearstead Advisors LLC lifted its position in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares during the period. Silicon Valley Capital Partners lifted its position in APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares during the period. Parallel Advisors LLC lifted its position in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APG has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their target price on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Barclays restated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 target price on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Citigroup reiterated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.14.

Insider Activity

In other news, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the sale, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. The trade was a 0.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 4,444,000 shares of company stock worth $187,377,645. Insiders own 18.70% of the company’s stock.

APi Group Price Performance

Shares of NYSE:APG opened at $42.25 on Thursday. APi Group Corporation has a one year low of $31.40 and a one year high of $49.99. The stock has a fifty day moving average of $43.78 and a 200-day moving average of $42.05. The company has a market capitalization of $18.30 billion, a PE ratio of -59.51, a price-to-earnings-growth ratio of 2.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that APi Group Corporation will post 1.7 EPS for the current fiscal 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.