Eagle Rock Investment Company LLC Acquires New Holdings in APi Group Corporation $APG

Eagle Rock Investment Company LLC bought a new stake in shares of APi Group Corporation (NYSE:APG) in the third quarter, HoldingsChannel.com reports. The firm bought 20,354 shares of the company’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of APi Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock worth $1,199,357,000 after acquiring an additional 453,543 shares during the period. Durable Capital Partners LP grew its stake in shares of APi Group by 19.2% during the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock valued at $542,333,000 after purchasing an additional 1,712,397 shares during the period. State Street Corp increased its position in shares of APi Group by 83.2% during the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after purchasing an additional 3,247,126 shares during the last quarter. Findlay Park Partners LLP boosted its holdings in shares of APi Group by 3.4% in the second quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock worth $340,332,000 after buying an additional 220,700 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in APi Group by 72.1% during the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after buying an additional 2,077,705 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at APi Group

In other news, Director Anthony E. Malkin purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $39.58 per share, with a total value of $118,740.00. Following the completion of the purchase, the director owned 7,000 shares in the company, valued at approximately $277,060. This represents a 75.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought a total of 7,000 shares of company stock worth $275,720 in the last ninety days. Company insiders own 17.00% of the company’s stock.

APi Group Price Performance

Shares of NYSE:APG opened at $44.37 on Monday. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 121.00 and a beta of 1.70. The firm has a fifty day moving average price of $41.15 and a 200 day moving average price of $37.64. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APG shares. Barclays lifted their price target on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. UBS Group set a $49.00 price objective on APi Group and gave the stock a “buy” rating in a research note on Thursday, January 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Citigroup restated a “buy” rating and set a $49.00 target price (up previously from $45.00) on shares of APi Group in a research note on Monday, January 12th. Finally, CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.24.

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.