Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in APi Group Co. (NYSE:APG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,342 shares of the company’s stock, valued at approximately $359,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in APi Group in the first quarter valued at approximately $31,000. Geode Capital Management LLC increased its stake in APi Group by 12.5% in the first quarter. Geode Capital Management LLC now owns 2,324,719 shares of the company’s stock valued at $48,075,000 after acquiring an additional 257,469 shares during the last quarter. Prudential Financial Inc. bought a new position in APi Group in the first quarter valued at approximately $221,000. Searle & CO. bought a new position in APi Group in the first quarter valued at approximately $1,398,000. Finally, JPMorgan Chase & Co. increased its stake in APi Group by 419.7% in the first quarter. JPMorgan Chase & Co. now owns 861,277 shares of the company’s stock valued at $17,811,000 after acquiring an additional 695,556 shares during the last quarter. Institutional investors own 74.80% of the company’s stock.
A number of brokerages recently issued reports on APG. Barclays lifted their price objective on shares of APi Group from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Zacks Investment Research cut shares of APi Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 25th.
APi Group (NYSE:APG) last posted its earnings results on Tuesday, May 11th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $803.00 million for the quarter, compared to the consensus estimate of $767.28 million. APi Group had a return on equity of 26.47% and a net margin of 0.93%. The firm’s revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that APi Group Co. will post 1.17 EPS for the current year.
APi Group Company Profile
APi Group Corporation provides safety, specialty, and industrial services primarily in North America. 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, and HVAC and entry systems, which include the design, installation, inspection, and service of these integrated systems.
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