Lombard Odier Asset Management Europe Ltd Makes New Investment in APi Group Corporation $APG

Lombard Odier Asset Management Europe Ltd purchased a new stake in APi Group Corporation (NYSE:APG) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 70,363 shares of the company’s stock, valued at approximately $2,851,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in APi Group in the 4th quarter valued at about $181,066,000. Durable Capital Partners LP raised its stake in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp lifted its holdings in APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the last quarter. Invesco Ltd. lifted its holdings in APi Group by 224.6% during the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in APi Group during the fourth quarter worth $132,125,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Stock Performance

NYSE:APG opened at $39.58 on Friday. The stock has a fifty day moving average price of $41.55 and a 200-day moving average price of $42.76. The company has a market cap of $17.15 billion, a price-to-earnings ratio of -55.74, a PEG ratio of 2.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99.

APi Group (NYSE:APG) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.37 EPS. APi Group’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Insider Activity

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the transaction, the director directly owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 65,534 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the transaction, the director owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. The trade was a 0.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Barclays reissued an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Robert W. Baird set a $52.00 price objective on shares of APi Group in a research note on Friday, May 1st. Finally, Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a “buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $53.17.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.