Allspring Global Investments Holdings LLC Grows Stock Holdings in APi Group Corporation $APG

Allspring Global Investments Holdings LLC increased its position in APi Group Corporation (NYSE:APG) by 38.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,738,403 shares of the company’s stock after buying an additional 1,316,971 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in APi Group were worth $162,954,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APG. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Barclays increased their price objective 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $38.81.

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction 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 transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 900,000 shares of company stock worth $32,342,000 over the last ninety days. 17.00% of the stock is owned by insiders.

APi Group Trading Down 1.0%

APG opened at $38.83 on Wednesday. The stock has a 50-day moving average of $37.74 and a 200 day moving average of $35.76. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $40.58. The firm has a market cap of $16.15 billion, a P/E ratio of 105.89 and a beta of 1.72.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

APi Group Company 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.