Machina Capital S.A.S. Acquires 11,972 Shares of APi Group Corporation $APG

Machina Capital S.A.S. boosted its holdings in APi Group Corporation (NYSE:APG) by 162.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,351 shares of the company’s stock after acquiring an additional 11,972 shares during the quarter. Machina Capital S.A.S.’s holdings in APi Group were worth $665,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of APi Group in the 1st quarter valued at approximately $650,000. Goldman Sachs Group Inc. boosted its stake in APi Group by 73.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after buying an additional 75,490 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in APi Group by 1.2% in the second quarter. KLP Kapitalforvaltning AS now owns 43,000 shares of the company’s stock valued at $2,195,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC bought a new stake in APi Group in the second quarter valued at $226,000. Finally, Louisiana State Employees Retirement System acquired a new position in APi Group during the second quarter worth $3,466,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity

In related news, Director Anthony E. Malkin purchased 3,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was bought at an average cost of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director directly owned 7,000 shares in the company, valued at $277,060. The trade was a 75.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders bought 7,000 shares of company stock worth $275,720. 17.00% of the stock is currently owned by insiders.

APi Group Stock Performance

APG stock opened at $42.94 on Friday. The company has a 50 day moving average price of $40.48 and a 200 day moving average price of $37.18. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $43.75. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41. The stock has a market capitalization of $17.86 billion, a PE ratio of 117.12 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APG shares. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays upped their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Truist Financial raised their price objective on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $49.00 price target (up from $45.00) on shares of APi Group in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.24.

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.