Public Employees Retirement System of Ohio Invests $4.69 Million in APi Group Corporation $APG

Public Employees Retirement System of Ohio bought a new stake in APi Group Corporation (NYSE:APG) during the second quarter, HoldingsChannel.com reports. The fund bought 110,762 shares of the company’s stock, valued at approximately $4,691,000.

Several other hedge funds have also bought and sold shares of the company. Ancora Advisors LLC bought a new position in APi Group during the second quarter worth about $14,448,000. Bank of New York Mellon Corp bought a new stake in APi Group in the second quarter valued at approximately $93,030,000. Leverty Financial Group LLC bought a new stake in APi Group in the second quarter valued at approximately $201,000. Tema ETFs LLC lifted its position in shares of APi Group by 3.9% in the second quarter. Tema ETFs LLC now owns 214,419 shares of the company’s stock valued at $9,081,000 after buying an additional 8,010 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of APi Group by 6.1% in the second quarter. Wealthcare Advisory Partners LLC now owns 7,096 shares of the company’s stock valued at $301,000 after buying an additional 410 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 85,072 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the transaction, the director owned 9,177,284 shares in the company, valued at $370,395,182.24. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of APi Group stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,667,000 shares of company stock valued at $110,810,972. Company insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APG. Wall Street Zen lowered APi Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company started coverage on APi Group in a report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price target for the company. UBS Group set a $52.00 price objective on shares of APi Group in a research report on Monday, July 20th. Robert W. Baird set a $47.00 price objective on shares of APi Group in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

APi Group Trading Up 0.7%

Shares of NYSE:APG opened at $39.41 on Thursday. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The stock has a market cap of $17.03 billion, a PE ratio of -58.82, a P/E/G ratio of 2.28 and a beta of 1.60. The business has a 50 day moving average of $41.11 and a 200-day moving average of $42.51. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last posted its earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, equities research analysts forecast that APi Group Corporation will post 1.72 earnings per share 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.