APi Group (NYSE:APG) Director Acquires $78,060.00 in Stock

APi Group Corporation (NYSE:APG) Director Anthony Malkin bought 2,000 shares of APi Group stock in a transaction on Friday, December 5th. The shares were purchased at an average cost of $39.03 per share, for a total transaction of $78,060.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company’s stock, valued at $156,120. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

APi Group Trading Up 3.5%

Shares of APi Group stock traded up $1.41 during mid-day trading on Friday, hitting $41.90. The stock had a trading volume of 3,005,326 shares, compared to its average volume of 3,229,487. The firm has a 50-day moving average of $38.48 and a two-hundred day moving average of $36.06. The firm has a market cap of $17.42 billion, a P/E ratio of 114.26 and a beta of 1.70. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $41.93.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APG shares. Barclays boosted their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. CJS Securities raised shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Zacks Research lowered APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Hedge Funds Weigh In On APi Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after buying an additional 11,644,990 shares during the period. Durable Capital Partners LP increased its position in shares of APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the last quarter. State Street Corp increased its position in shares of APi Group by 50.6% in the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the last quarter. Invesco Ltd. raised its holdings in shares of APi Group by 224.6% in the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of APi Group during the 2nd quarter worth $154,149,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

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.