Lombard Odier Asset Management USA Corp Sells 19,696 Shares of APi Group Corporation $APG

Lombard Odier Asset Management USA Corp reduced its stake in APi Group Corporation (NYSE:APG) by 33.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,897 shares of the company’s stock after selling 19,696 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in APi Group were worth $1,617,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of APi Group in the fourth quarter valued at approximately $181,066,000. Durable Capital Partners LP boosted its holdings in shares of APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after buying an additional 4,274,610 shares during the period. State Street Corp boosted its holdings in shares of APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after buying an additional 3,620,931 shares during the period. Invesco Ltd. boosted its holdings in shares of APi Group by 224.6% during the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after buying an additional 3,535,682 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in APi Group in the 4th quarter valued at $132,125,000. Institutional investors own 86.62% of the company’s stock.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 225,539 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the sale, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the completion of the sale, the director owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,451,000 shares of company stock worth $149,194,935 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Robert W. Baird set a $52.00 price target on APi Group in a research report on Friday, May 1st. Barclays reiterated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, UBS Group set a $52.00 target price on APi Group in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.17.

APi Group Trading Up 0.0%

Shares of APG stock opened at $39.58 on Friday. The firm has a market capitalization of $17.15 billion, a P/E ratio of -55.74, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. APi Group Corporation has a 1 year low of $33.40 and a 1 year high of $49.99. The firm’s fifty day simple moving average is $41.55 and its 200 day simple moving average is $42.76. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79.

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

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.