Milford Funds Ltd. Invests $124.49 Million in APi Group Corporation $APG

Milford Funds Ltd. bought a new position in shares of APi Group Corporation (NYSE:APG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,253,697 shares of the company’s stock, valued at approximately $124,486,000. APi Group accounts for about 2.4% of Milford Funds Ltd.’s investment portfolio, making the stock its 12th biggest position. Milford Funds Ltd. owned 0.78% of APi Group as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APG. AQR Capital Management LLC bought a new position in shares of APi Group during the first quarter worth approximately $650,000. Goldman Sachs Group Inc. increased its holdings in shares of APi Group by 73.6% during the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after purchasing an additional 75,490 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of APi Group by 547.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP increased its holdings in shares of APi Group by 166.5% during the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock worth $8,861,000 after purchasing an additional 108,447 shares during the period. Finally, Cresset Asset Management LLC increased its holdings in shares of APi Group by 5.7% during the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock worth $577,000 after purchasing an additional 612 shares during the period. 86.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APG has been the topic of several recent research reports. Robert W. Baird set a $52.00 target price on shares of APi Group in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Barclays reissued an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Citigroup reissued a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average target price of $52.14.

APi Group Stock Performance

Shares of APi Group stock opened at $42.34 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a twelve month low of $31.75 and a twelve month high of $49.99. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of -59.64, a P/E/G ratio of 2.50 and a beta of 1.60. The company’s fifty day moving average is $43.99 and its 200 day moving average is $42.28.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. Sell-side analysts forecast that APi Group Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares of the company’s stock, valued at $868,308,614.88. This trade represents a 12.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total value of $45,555,984.18. Following the transaction, the director directly owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. This represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,444,000 shares of company stock valued at $271,537,645 in the last three months. Insiders own 18.70% of the company’s stock.

About APi Group

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.