3,253,697 Shares in APi Group Corporation $APG Bought by Milford Funds Ltd.

Milford Funds Ltd. bought a new stake in APi Group Corporation (NYSE:APG) during the 4th quarter, HoldingsChannel reports. The firm bought 3,253,697 shares of the company’s stock, valued at approximately $124,486,000. APi Group makes up 2.4% of Milford Funds Ltd.’s investment portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of APG. Vanguard Group Inc. lifted its holdings in APi Group by 49.6% in the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after buying an additional 11,644,990 shares during the period. Norges Bank acquired a new position in APi Group in the fourth quarter valued at $181,066,000. Durable Capital Partners LP grew its stake in APi Group by 40.2% during 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 grew its stake in APi Group by 50.6% during 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. Finally, Invesco Ltd. grew its stake in 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 during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Trading Down 0.7%

APG opened at $42.34 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a fifty-two week low of $31.75 and a fifty-two week high of $49.99. The firm has a market capitalization of $18.34 billion, a PE ratio of -59.64, a P/E/G ratio of 2.50 and a beta of 1.60. The company’s 50-day moving average is $43.99 and its 200 day moving average is $42.28.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APG has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Citigroup reiterated a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. UBS Group lifted their price objective on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average price target of $52.14.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ian G. H. Ashken sold 65,534 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the sale, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. This represents a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,444,000 shares of company stock worth $271,537,645 in the last quarter. Insiders own 18.70% of the company’s stock.

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.