Voya Investment Management LLC Buys 89,636 Shares of APi Group Corporation $APG

Voya Investment Management LLC grew its position in shares of APi Group Corporation (NYSE:APG) by 326.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,077 shares of the company’s stock after acquiring an additional 89,636 shares during the quarter. Voya Investment Management LLC’s holdings in APi Group were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bares Capital Management Inc. purchased a new position in APi Group during the second quarter worth about $30,000. SVB Wealth LLC purchased a new position in shares of APi Group in the 1st quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its holdings in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $65,000 after acquiring an additional 1,078 shares in the last quarter. Ulland Investment Advisors LLC grew its holdings in shares of APi Group by 41.5% in the second quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $77,000 after acquiring an additional 440 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in APi Group during the second quarter worth $98,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Activity at APi Group

In other news, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director directly owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 900,000 shares of company stock valued at $32,342,000 over the last three months. 17.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on APG shares. Barclays upped their price objective on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Citigroup restated a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of APi Group in a report on Monday, December 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $38.81.

APi Group Price Performance

Shares of NYSE:APG opened at $39.40 on Friday. The firm has a market capitalization of $16.39 billion, a PE ratio of 107.46 and a beta of 1.72. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $37.47 and a two-hundred day moving average price of $35.56. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $40.58.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities analysts forecast that APi Group Corporation will post 1.83 EPS for the current 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.