State of New Jersey Common Pension Fund D Boosts Holdings in APi Group Co. (NYSE:APG)

State of New Jersey Common Pension Fund D raised its holdings in APi Group Co. (NYSE:APGGet Rating) by 10.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 124,186 shares of the company’s stock after acquiring an additional 11,344 shares during the period. State of New Jersey Common Pension Fund D’s holdings in APi Group were worth $2,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in APi Group by 18.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,068 shares of the company’s stock valued at $156,000 after buying an additional 950 shares during the period. Leverty Financial Group LLC purchased a new stake in shares of APi Group during the 4th quarter worth about $162,000. Ulland Investment Advisors LLC purchased a new stake in shares of APi Group during the 4th quarter worth about $188,000. Dupont Capital Management Corp purchased a new stake in shares of APi Group during the 1st quarter worth about $156,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of APi Group during the 4th quarter worth about $202,000.

APi Group Stock Performance

Shares of APG opened at $17.71 on Monday. The business’s 50 day moving average is $16.20 and its two-hundred day moving average is $18.90. APi Group Co. has a 52-week low of $14.13 and a 52-week high of $26.84. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -26.83, a PEG ratio of 0.57 and a beta of 1.34. The company has a quick ratio of 1.53, a current ratio of 1.63 and a debt-to-equity ratio of 1.23.

APi Group (NYSE:APGGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. APi Group had a return on equity of 12.06% and a net margin of 1.04%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $0.12 EPS. APi Group’s quarterly revenue was up 86.8% on a year-over-year basis. Analysts forecast that APi Group Co. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APG shares. Royal Bank of Canada decreased their target price on APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Bank of America upgraded APi Group from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Monday, July 11th. JPMorgan Chase & Co. began coverage on APi Group in a research report on Friday, June 17th. They set a “neutral” rating and a $17.00 price target on the stock. Finally, Barclays reduced their price target on APi Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.17.

Insider Activity at APi Group

In other news, Director Anthony E. Malkin purchased 12,600 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were acquired at an average cost of $14.47 per share, with a total value of $182,322.00. Following the transaction, the director now owns 34,396 shares in the company, valued at approximately $497,710.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.70% of the company’s stock.

About APi Group

(Get Rating)

APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.

See Also

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Institutional Ownership by Quarter for APi Group (NYSE:APG)

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