Geode Capital Management LLC Raises Stock Position in APi Group Co. (NYSE:APG)

Geode Capital Management LLC grew its stake in APi Group Co. (NYSE:APG) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,730,499 shares of the company’s stock after purchasing an additional 106,119 shares during the quarter. Geode Capital Management LLC owned about 1.36% of APi Group worth $123,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. purchased a new stake in APi Group in the third quarter worth about $26,000. Avior Wealth Management LLC bought a new position in shares of APi Group in the 3rd quarter worth approximately $33,000. Strategic Financial Concepts LLC lifted its stake in shares of APi Group by 3,622.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 392,559 shares of the company’s stock valued at $148,000 after purchasing an additional 382,012 shares during the period. SG Americas Securities LLC bought a new stake in shares of APi Group during the third quarter valued at approximately $165,000. Finally, KBC Group NV grew its stake in APi Group by 14.8% in the third quarter. KBC Group NV now owns 5,601 shares of the company’s stock worth $185,000 after purchasing an additional 721 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

APG stock opened at $38.77 on Wednesday. The stock has a market capitalization of $10.65 billion, a PE ratio of -19.68 and a beta of 1.55. The stock’s 50 day simple moving average is $35.99 and its 200 day simple moving average is $35.75. APi Group Co. has a 12-month low of $30.26 and a 12-month high of $40.89. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm posted $0.48 earnings per share. APi Group’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of APi Group in a research report on Friday, November 1st. William Blair reissued an “outperform” rating on shares of APi Group in a research report on Thursday, December 5th. Barclays upped their price objective on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird raised their target price on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price target on APi Group from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.43.

Insider Activity

In other news, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the transaction, the director now directly owns 5,478,779 shares of the company’s stock, valued at $202,002,581.73. This represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the sale, the director now directly owns 1,134,635 shares of the company’s stock, valued at $41,958,802.30. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

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.