Lombard Odier Asset Management USA Corp Takes $2.96 Million Position in APi Group Corporation $APG

Lombard Odier Asset Management USA Corp bought a new position in APi Group Corporation (NYSE:APG) during the 2nd quarter, Holdings Channel.com reports. The firm bought 58,045 shares of the company’s stock, valued at approximately $2,963,000.

Several other hedge funds also recently made changes to their positions in APG. Vanguard Group Inc. boosted its position in APi Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 23,493,777 shares of the company’s stock valued at $1,199,357,000 after buying an additional 453,543 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of APi Group by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company’s stock valued at $581,073,000 after acquiring an additional 621,761 shares during the period. Durable Capital Partners LP raised its stake in shares of APi Group by 78.0% during the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company’s stock valued at $318,663,000 after acquiring an additional 3,903,632 shares during the last quarter. State Street Corp boosted its holdings in shares of APi Group by 83.2% during the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after purchasing an additional 3,247,126 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of APi Group by 75.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company’s stock worth $241,997,000 after purchasing an additional 2,906,783 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

Shares of APi Group stock opened at $38.88 on Tuesday. APi Group Corporation has a 12 month low of $20.50 and a 12 month high of $39.65. The firm has a market capitalization of $16.17 billion, a P/E ratio of 106.02 and a beta of 1.72. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $36.29 and a two-hundred day simple moving average of $34.90.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $0.51 EPS. APi Group’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on APG. Citigroup reaffirmed a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of APi Group in a research report on Monday. Zacks Research downgraded APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APi Group in a research note on Monday, December 1st. Finally, Barclays boosted their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 900,000 shares of company stock worth $32,342,000 in the last three months. 17.00% of the stock is currently owned by insiders.

APi Group Company Profile

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.