Lombard Odier Asset Management USA Corp Purchases 66,927 Shares of APi Group Corporation $APG

Lombard Odier Asset Management USA Corp raised its position in APi Group Corporation (NYSE:APG) by 115.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,972 shares of the company’s stock after purchasing an additional 66,927 shares during the period. APi Group accounts for 0.3% of Lombard Odier Asset Management USA Corp’s investment portfolio, making the stock its 27th biggest position. Lombard Odier Asset Management USA Corp’s holdings in APi Group were worth $4,295,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Advisors LLC boosted its stake in APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the period. Parallel Advisors LLC raised its holdings in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Bares Capital Management Inc. purchased a new stake in shares of APi Group in the 2nd quarter valued at about $30,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of APi Group during the 3rd quarter valued at about $31,000. Finally, Root Financial Partners LLC bought a new stake in shares of APi Group during the 3rd quarter valued at about $32,000. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of NYSE APG opened at $41.26 on Tuesday. The stock’s 50-day moving average is $42.87 and its 200 day moving average is $38.79. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of -54.53, a P/E/G ratio of 2.38 and a beta of 1.69. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.89. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81.

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

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 72,546 shares of APi Group stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.94, for a total value of $3,115,125.24. Following the transaction, the director owned 10,561,284 shares in the company, valued at $453,501,534.96. This trade represents a 0.68% 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 business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.94, for a total transaction of $3,591,029.26. Following the completion of the sale, the director directly owned 9,522,350 shares of the company’s stock, valued at $408,889,709. This represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 682,000 shares of company stock worth $29,693,385. 17.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

APG has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. UBS Group boosted their price target on shares of APi Group from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Truist Financial increased their price target on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Citigroup raised their price objective on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

APi Group 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.