Cooke & Bieler LP Raises Stock Holdings in APi Group Co. (NYSE:APG)

Cooke & Bieler LP grew its stake in APi Group Co. (NYSE:APG) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,020,768 shares of the company’s stock after buying an additional 132,713 shares during the quarter. APi Group makes up 1.4% of Cooke & Bieler LP’s portfolio, making the stock its 27th biggest holding. Cooke & Bieler LP owned 1.46% of APi Group worth $144,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of APG. Atria Investments Inc increased its position in APi Group by 7.2% in the third quarter. Atria Investments Inc now owns 12,672 shares of the company’s stock worth $418,000 after buying an additional 849 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of APi Group during the third quarter worth about $369,000. GSA Capital Partners LLP purchased a new stake in shares of APi Group during the third quarter worth about $881,000. Aigen Investment Management LP purchased a new stake in shares of APi Group during the third quarter worth about $206,000. Finally, MQS Management LLC purchased a new stake in shares of APi Group during the third quarter worth about $484,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APG. Truist Financial reiterated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Tuesday, January 14th. Citigroup cut their target price on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group cut their target price on 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, William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.00.

Insider Activity

In other news, Director James E. Lillie sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the sale, the director now directly owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.20% of the company’s stock.

APi Group Price Performance

NYSE:APG opened at $35.98 on Tuesday. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of -18.26 and a beta of 1.54. APi Group Co. has a 1 year low of $31.44 and a 1 year high of $41.31. The business has a 50 day simple moving average of $37.66 and a 200-day simple moving average of $36.13. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42.

About APi Group

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.