Verition Fund Management LLC Buys New Position in APi Group Co. (NYSE:APG)

Verition Fund Management LLC acquired a new position in APi Group Co. (NYSE:APGGet Rating) in the 1st quarter, HoldingsChannel reports. The firm acquired 90,970 shares of the company’s stock, valued at approximately $1,913,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APG. Viking Global Investors LP increased its position in shares of APi Group by 0.4% during the first quarter. Viking Global Investors LP now owns 33,463,200 shares of the company’s stock valued at $703,731,000 after acquiring an additional 129,867 shares during the last quarter. State Street Corp increased its position in shares of APi Group by 5.2% during the first quarter. State Street Corp now owns 3,842,273 shares of the company’s stock valued at $80,803,000 after acquiring an additional 189,857 shares during the last quarter. Geode Capital Management LLC grew its holdings in APi Group by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 3,341,972 shares of the company’s stock valued at $86,122,000 after purchasing an additional 144,655 shares during the period. ADW Capital Management LLC grew its holdings in APi Group by 1.9% during the first quarter. ADW Capital Management LLC now owns 3,100,000 shares of the company’s stock valued at $65,193,000 after purchasing an additional 57,000 shares during the period. Finally, Robeco Schweiz AG grew its holdings in APi Group by 17.4% during the first quarter. Robeco Schweiz AG now owns 3,066,900 shares of the company’s stock valued at $64,497,000 after purchasing an additional 454,998 shares during the period. 73.28% of the stock is owned by hedge funds and other institutional investors.

APi Group Trading Down 1.5 %

Shares of APi Group stock opened at $14.94 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.62 and a quick ratio of 1.52. The firm has a fifty day moving average price of $16.41 and a 200 day moving average price of $17.60. APi Group Co. has a 1 year low of $14.13 and a 1 year high of $26.84. The stock has a market cap of $3.48 billion, a PE ratio of -21.65, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46.

APi Group (NYSE:APGGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. APi Group had a net margin of 1.08% and a return on equity of 13.70%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 68.6% compared to the same quarter last year. Equities research analysts predict that APi Group Co. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

APi Group Profile

(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.

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

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