1,154,344 APi Group Corporation $APG Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in APi Group Corporation (NYSE:APG) by 11.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,457,638 shares of the company’s stock after acquiring an additional 1,154,344 shares during the quarter. Pictet Asset Management Holding SA’s holdings in APi Group were worth $442,284,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of APi Group by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company’s stock worth $946,846,000 after buying an additional 250,873 shares during the period. Bank of New York Mellon Corp acquired a new stake in APi Group in the 2nd quarter valued at $93,030,000. Cooke & Bieler LP grew its position in APi Group by 13.6% in the third quarter. Cooke & Bieler LP now owns 2,030,753 shares of the company’s stock valued at $78,387,000 after acquiring an additional 243,225 shares during the period. Sei Investments Co. grew its position in APi Group by 0.4% in the first quarter. Sei Investments Co. now owns 1,046,852 shares of the company’s stock valued at $42,419,000 after acquiring an additional 3,999 shares during the period. Finally, Robeco Schweiz AG raised its stake in APi Group by 15.7% during the third quarter. Robeco Schweiz AG now owns 1,031,691 shares of the company’s stock worth $39,823,000 after acquiring an additional 139,692 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APG has been the subject of several recent analyst reports. Wall Street Zen lowered shares of APi Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup upped their target price on shares of APi Group from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. raised their price target on APi Group from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings upgraded shares of APi Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Finally, Robert W. Baird set a $47.00 target price on APi Group in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $54.67.

APi Group Stock Up 1.3%

APG stock opened at $40.87 on Friday. The stock has a fifty day moving average of $39.87 and a 200-day moving average of $41.94. APi Group Corporation has a fifty-two week low of $35.16 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.12 and a current ratio of 1.18. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of -64.87, a PEG ratio of 1.73 and a beta of 1.57.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.40 billion. APi Group had a net margin of 4.12% and a return on equity of 38.31%. APi Group’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. As a group, equities research analysts predict that APi Group Corporation will post 1.77 earnings per share for the current year.

APi Group Company Profile

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities.

The company’s services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.

APi Group traces its roots to a pipe installation business established in Minnesota in 1926.