Durable Capital Partners LP Has $180.12 Million Stake in APi Group Co. (NYSE:APG)

Durable Capital Partners LP grew its stake in APi Group Co. (NYSE:APG - Free Report) by 199.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,007,539 shares of the company's stock after buying an additional 3,337,468 shares during the quarter. APi Group accounts for about 1.5% of Durable Capital Partners LP's portfolio, making the stock its 26th largest holding. Durable Capital Partners LP owned about 1.82% of APi Group worth $180,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of APG. Blue Trust Inc. grew its position in shares of APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company's stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in APi Group in the fourth quarter valued at $34,000. First Horizon Advisors Inc. grew its holdings in shares of APi Group by 53.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company's stock worth $43,000 after purchasing an additional 414 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of APi Group by 2,058.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company's stock worth $82,000 after purchasing an additional 217,071 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of APi Group during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Trading Up 2.2%

Shares of NYSE:APG traded up $0.95 during trading on Monday, hitting $45.11. 1,081,148 shares of the company's stock were exchanged, compared to its average volume of 1,701,098. The firm has a market cap of $12.49 billion, a P/E ratio of -22.91 and a beta of 1.54. The firm has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $37.10. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group Co. has a 1-year low of $30.76 and a 1-year high of $45.64.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. Equities analysts predict that APi Group Co. will post 1.83 earnings per share for the current year.

Insider Transactions at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares in the company, valued at $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Lillie sold 50,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on APG shares. Truist Financial restated a "buy" rating and set a $48.00 price objective (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Royal Bank of Canada upgraded shares of APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Tuesday, January 14th. Robert W. Baird increased their price objective on shares of APi Group from $40.00 to $46.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. UBS Group reduced their price target on shares of APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, Citigroup cut their target price on shares of APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.86.

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.