Geode Capital Management LLC Acquires 106,119 Shares of APi Group Co. (NYSE:APG)

Geode Capital Management LLC lifted its position in APi Group Co. (NYSE:APG - Free Report) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,730,499 shares of the company's stock after buying an additional 106,119 shares during the quarter. Geode Capital Management LLC owned about 1.36% of APi Group worth $123,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. First Horizon Advisors Inc. bought a new position in APi Group in the 3rd quarter worth $26,000. Avior Wealth Management LLC acquired a new stake in shares of APi Group in the third quarter valued at about $33,000. SG Americas Securities LLC bought a new position in shares of APi Group in the third quarter worth about $165,000. KBC Group NV increased its stake in shares of APi Group by 14.8% in the third quarter. KBC Group NV now owns 5,601 shares of the company's stock worth $185,000 after purchasing an additional 721 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of APi Group during the 3rd quarter worth about $206,000. 86.62% of the stock is owned by institutional investors.

APi Group Trading Up 3.2 %

Shares of APG stock opened at $38.77 on Wednesday. The firm has a fifty day moving average of $35.99 and a 200-day moving average of $35.75. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of -19.68 and a beta of 1.55. APi Group Co. has a 52-week low of $30.26 and a 52-week high of $40.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. On average, equities research analysts forecast that APi Group Co. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken sold 53,868 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the sale, the director now owns 5,478,779 shares of the company's stock, valued at approximately $202,002,581.73. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Lillie sold 11,568 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the transaction, the director now directly owns 1,134,635 shares in the company, valued at $41,958,802.30. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on APi Group from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Citigroup boosted their target price on shares of APi Group from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. William Blair reissued an "outperform" rating on shares of APi Group in a report on Thursday, December 5th. Barclays boosted their price objective on shares of APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.43.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.