Diversified Trust Co. Takes $2.01 Million Position in APi Group Corporation $APG

Diversified Trust Co. purchased a new stake in APi Group Corporation (NYSE:APG) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 52,646 shares of the company’s stock, valued at approximately $2,014,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares during the period. Durable Capital Partners LP raised its holdings in APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares during the period. State Street Corp raised its holdings in APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after purchasing an additional 3,620,931 shares during the period. Invesco Ltd. boosted its position in shares of APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after purchasing an additional 3,535,682 shares in the last quarter. Finally, Norges Bank bought a new position in shares of APi Group during the second quarter worth $154,149,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 0.2%

Shares of APG stock opened at $42.14 on Thursday. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of -55.70, a P/E/G ratio of 2.51 and a beta of 1.69. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $46.89. The firm has a fifty day moving average of $42.83 and a 200-day moving average of $39.07. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

APi Group (NYSE:APG) last announced its earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, equities research analysts predict that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the sale, the director owned 21,240,426 shares of the company’s stock, valued at approximately $868,308,614.88. This trade represents a 12.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 83,629 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the completion of the sale, the director owned 9,522,350 shares in the company, valued at $408,889,709. The trade was a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,682,000 shares of company stock worth $152,333,385 over the last three months. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APG. Truist Financial upped their price objective on shares of APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Citigroup lifted their target price on APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Finally, UBS Group raised their price target on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

APi Group 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.