25,455 APi Group Corporation $APG Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its APi Group stake by 25,455 shares—a 1.0% rise—to 2.52 million shares, valued at about $101 million. Institutional investors collectively own 86.62% of the company.
• APi Group reported quarterly earnings of $0.50 per share, above the $0.47 consensus estimate, and revenue of $2.55 billion, up 22.5% year over year.
• Analysts maintain a consensus Buy rating and an average price target of $54.67; recent targets include $57 from Citigroup and $58 from Truist.

Allspring Global Investments Holdings LLC increased its stake in APi Group Corporation (NYSE:APG - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,524,369 shares of the company's stock after acquiring an additional 25,455 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.59% of APi Group worth $101,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of APi Group by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock valued at $946,846,000 after purchasing an additional 250,873 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of APi Group by 11.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 11,457,638 shares of the company's stock worth $442,284,000 after purchasing an additional 1,154,344 shares during the period. Bank of New York Mellon Corp bought a new position in APi Group during the 2nd quarter valued at about $93,030,000. Cooke & Bieler LP grew its holdings in APi Group by 13.6% during the 3rd quarter. Cooke & Bieler LP now owns 2,030,753 shares of the company's stock valued at $78,387,000 after purchasing an additional 243,225 shares during the last quarter. Finally, Sei Investments Co. raised its position in APi Group by 0.4% in the 1st quarter. Sei Investments Co. now owns 1,046,852 shares of the company's stock worth $42,419,000 after purchasing an additional 3,999 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Price Performance

Shares of APG stock opened at $42.55 on Tuesday. The company has a market capitalization of $18.10 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.86 and a beta of 1.57. The company's 50-day simple moving average is $39.93 and its two-hundred day simple moving average is $41.95. APi Group Corporation has a one year low of $35.57 and a one year high of $49.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.18 and a quick ratio of 1.12.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. APi Group had a net margin of 4.12% and a return on equity of 38.31%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company's revenue was up 22.5% on a year-over-year basis. As a group, equities analysts anticipate that APi Group Corporation will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup boosted their target price on APi Group from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Truist Financial set a $58.00 price target on APi Group and gave the stock a "buy" rating in a report on Friday, October 30th. Jefferies Financial Group reiterated a "buy" rating and issued a $56.00 price target on shares of APi Group in a report on Friday, October 30th. UBS Group set a $52.00 price target on APi Group in a research note on Monday, July 20th. Finally, Wall Street Zen cut APi Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $54.67.

APi Group Profile

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities.

The company's services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.

APi Group traces its roots to a pipe installation business established in Minnesota in 1926.

Want to see what other hedge funds are holding APG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APi Group Corporation (NYSE:APG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.