Allspring Global Investments Holdings LLC Raises Position in APi Group Corporation $APG

Allspring Global Investments Holdings LLC raised its holdings in shares of APi Group Corporation (NYSE:APG) by 38.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,738,403 shares of the company’s stock after buying an additional 1,316,971 shares during the period. Allspring Global Investments Holdings LLC owned about 1.14% of APi Group worth $162,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bares Capital Management Inc. bought a new position in shares of APi Group during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in shares of APi Group by 547.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after buying an additional 1,078 shares during the last quarter. Ulland Investment Advisors LLC increased its position in APi Group by 41.5% during the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $77,000 after buying an additional 440 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in APi Group during the second quarter valued at $98,000. Finally, GAMMA Investing LLC raised its stake in APi Group by 111.6% during the third quarter. GAMMA Investing LLC now owns 3,477 shares of the company’s stock valued at $120,000 after buying an additional 1,834 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Stock Performance

APG stock opened at $38.83 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $40.58. The company has a market cap of $16.15 billion, a P/E ratio of 105.89 and a beta of 1.72. The stock’s fifty day moving average price is $37.74 and its 200-day moving average price is $35.76.

APi Group (NYSE:APG) last issued its quarterly earnings results 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 business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, equities analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on APG. CJS Securities raised APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Citigroup reaffirmed a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of APi Group in a report on Monday, December 8th. Finally, Barclays increased their price target 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.81.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 900,000 shares of company stock valued at $32,342,000. Corporate insiders own 17.00% 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.