APi Group Corporation $APG Stake Lifted by Lansing Management LP

Lansing Management LP grew its stake in shares of APi Group Corporation (NYSE:APG) by 29.4% in the third quarter, Holdings Channel reports. The fund owned 585,970 shares of the company’s stock after acquiring an additional 133,071 shares during the quarter. APi Group accounts for about 14.6% of Lansing Management LP’s portfolio, making the stock its 4th largest position. Lansing Management LP’s holdings in APi Group were worth $20,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. 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 worth $29,000 after purchasing an additional 297 shares during the period. Whittier Trust Co. grew its holdings in APi Group by 49.9% during the third quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares during the period. Nisa Investment Advisors LLC increased its position in APi Group by 50.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the company’s stock worth $44,000 after buying an additional 425 shares during the last quarter. Clearstead Advisors LLC increased its position in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares during the last quarter. Finally, MAI Capital Management raised its stake in shares of APi Group by 78.6% in the third quarter. MAI Capital Management now owns 1,166 shares of the company’s stock valued at $40,000 after buying an additional 513 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Price Performance

APi Group stock opened at $41.26 on Tuesday. The firm has a market capitalization of $17.80 billion, a P/E ratio of -54.53, a PEG ratio of 2.38 and a beta of 1.69. APi Group Corporation has a one year low of $20.50 and a one year high of $46.89. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43. The business has a fifty day moving average price of $42.87 and a 200-day moving average price of $38.79.

APi Group (NYSE:APG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. As a group, equities research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling at APi Group

In other news, Director James E. Lillie sold 100,888 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $44.30, for a total transaction of $4,469,338.40. Following the sale, the director directly owned 9,706,462 shares in the company, valued at $429,996,266.60. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ian G. H. Ashken sold 114,409 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the completion of the sale, the director directly owned 10,633,830 shares in the company, valued at approximately $458,530,749.60. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 682,000 shares of company stock valued at $29,693,385 in the last quarter. 17.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upped their price target on APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Truist Financial boosted their price objective on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Royal Bank Of Canada increased their target price on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, Barclays lifted their target price on shares of APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

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.