Cornerstone Investment Partners LLC Buys 12,002 Shares of APi Group Corporation $APG

Cornerstone Investment Partners LLC raised its stake in APi Group Corporation (NYSE:APG) by 52.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 34,937 shares of the company’s stock after buying an additional 12,002 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in APi Group were worth $1,201,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of APi Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock worth $1,199,357,000 after purchasing an additional 453,543 shares during the period. Durable Capital Partners LP grew its stake in APi Group by 19.2% during the second quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock worth $542,333,000 after buying an additional 1,712,397 shares in the last quarter. State Street Corp increased its holdings in APi Group by 83.2% in the 2nd quarter. State Street Corp now owns 7,150,845 shares of the company’s stock valued at $365,051,000 after buying an additional 3,247,126 shares during the period. Findlay Park Partners LLP raised its position in shares of APi Group by 3.4% in the 2nd quarter. Findlay Park Partners LLP now owns 6,666,648 shares of the company’s stock valued at $340,332,000 after buying an additional 220,700 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of APi Group by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock worth $170,485,000 after acquiring an additional 2,077,705 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Barclays raised their target price on APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Truist Financial boosted their price target on 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 reaffirmed an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Finally, Citigroup reiterated a “buy” rating and issued a $49.00 target price (up previously from $45.00) on shares of APi Group in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, APi Group currently has an average rating of “Moderate Buy” and a consensus target price of $43.24.

APi Group Stock Performance

APi Group stock opened at $44.95 on Thursday. The business has a 50 day moving average of $40.95 and a 200-day moving average of $37.49. The company has a market capitalization of $18.69 billion, a P/E ratio of 122.59 and a beta of 1.70. APi Group Corporation has a 1 year low of $20.50 and a 1 year high of $46.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.41.

Insiders Place Their Bets

In other APi Group news, Director Anthony E. Malkin purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was purchased at an average cost of $39.58 per share, for a total transaction of $118,740.00. Following the transaction, the director owned 7,000 shares in the company, valued at $277,060. The trade was a 75.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have purchased 7,000 shares of company stock worth $275,720. 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.