Blackstone Inc. purchased a new stake in APi Group Co. (NYSE:APG – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 389,602 shares of the company's stock, valued at approximately $8,193,000. Blackstone Inc. owned approximately 0.17% of APi Group at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Viking Global Investors LP increased its stake in APi Group by 0.4% in the first quarter. Viking Global Investors LP now owns 33,463,200 shares of the company's stock valued at $703,731,000 after purchasing an additional 129,867 shares in the last quarter. State Street Corp increased its stake in APi Group by 5.2% in the first quarter. State Street Corp now owns 3,842,273 shares of the company's stock valued at $80,803,000 after purchasing an additional 189,857 shares in the last quarter. Geode Capital Management LLC increased its stake in APi Group by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 3,341,972 shares of the company's stock valued at $86,122,000 after purchasing an additional 144,655 shares in the last quarter. ADW Capital Management LLC increased its position in shares of APi Group by 1.9% during the first quarter. ADW Capital Management LLC now owns 3,100,000 shares of the company's stock worth $65,193,000 after acquiring an additional 57,000 shares in the last quarter. Finally, Robeco Schweiz AG increased its position in shares of APi Group by 17.4% during the first quarter. Robeco Schweiz AG now owns 3,066,900 shares of the company's stock worth $64,497,000 after acquiring an additional 454,998 shares in the last quarter. 73.28% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
APG has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of APi Group in a research report on Friday, June 17th. They set a "neutral" rating and a $17.00 target price for the company. Bank of America raised shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Monday, July 11th. Royal Bank of Canada decreased their target price on shares of APi Group from $24.00 to $18.00 in a research report on Monday, July 11th. Finally, Barclays decreased their target price on shares of APi Group from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Friday, July 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.17.
APi Group Stock Up 2.9 %
APG stock traded up $0.46 during trading on Friday, reaching $16.09. The stock had a trading volume of 714,109 shares, compared to its average volume of 563,494. APi Group Co. has a one year low of $14.13 and a one year high of $26.84. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 1.31. The company's 50 day moving average is $16.39 and its two-hundred day moving average is $17.82. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -23.32, a P/E/G ratio of 0.56 and a beta of 1.46.
APi Group (NYSE:APG – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net margin of 1.08% and a return on equity of 13.70%. The company's quarterly revenue was up 68.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. Equities research analysts forecast that APi Group Co. will post 1.33 EPS for the current year.
Insider Buying and Selling at APi Group
In related news, Director Anthony E. Malkin bought 12,600 shares of the company's stock in a transaction on Friday, June 17th. The shares were purchased at an average cost of $14.47 per share, for a total transaction of $182,322.00. Following the completion of the purchase, the director now directly owns 34,396 shares in the company, valued at $497,710.12. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.70% of the company's stock.
APi Group Company Profile
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APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.
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