Lansing Management LP Has $20.14 Million Position in APi Group Corporation $APG

Lansing Management LP increased its position in shares of APi Group Corporation (NYSE:APG) by 29.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585,970 shares of the company’s stock after buying an additional 133,071 shares during the quarter. APi Group comprises about 14.6% of Lansing Management LP’s portfolio, making the stock its 4th biggest position. Lansing Management LP owned approximately 0.14% of APi Group worth $20,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in APi Group by 47.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after purchasing an additional 108,433 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of APi Group by 72.1% in the third quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after buying an additional 2,077,705 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of APi Group by 48.6% in the third quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock valued at $23,172,000 after buying an additional 220,551 shares in the last quarter. Truist Financial Corp grew its holdings in shares of APi Group by 29.5% during the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after buying an additional 43,202 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its holdings in shares of APi Group by 59.6% during the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock valued at $3,874,000 after buying an additional 42,111 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of analyst reports. Barclays upped their target price on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. UBS Group boosted their price objective on APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Truist Financial increased their price objective on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. CJS Securities raised APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.57.

APi Group Trading Up 3.4%

Shares of APG stock opened at $41.26 on Tuesday. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The company has a 50-day simple moving average of $42.87 and a two-hundred day simple moving average of $38.79. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of -54.53, a PEG ratio of 2.38 and a beta of 1.69.

APi Group (NYSE:APG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business posted $0.51 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts anticipate that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, SVP Louis Lambert sold 22,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total value of $983,620.00. Following the completion of the transaction, the senior vice president owned 16,148 shares in the company, valued at $721,977.08. This represents a 57.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Lillie sold 83,629 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,591,029.26. Following the completion of the transaction, the director owned 9,522,350 shares of the company’s stock, valued at $408,889,709. This trade represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 682,000 shares of company stock valued at $29,693,385. 17.00% of the stock is owned by insiders.

APi Group Company Profile

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.