Lingotto Investment Management LLP Has $10.46 Million Stake in APi Group Corporation $APG

Lingotto Investment Management LLP grew its holdings in APi Group Corporation (NYSE:APG) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,800 shares of the company’s stock after purchasing an additional 30,800 shares during the quarter. APi Group comprises 0.2% of Lingotto Investment Management LLP’s portfolio, making the stock its 25th biggest holding. Lingotto Investment Management LLP’s holdings in APi Group were worth $10,455,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bridges Investment Management Inc. raised its holdings in APi Group by 15.4% in the 2nd quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock valued at $3,605,000 after acquiring an additional 9,435 shares in the last quarter. Rathbones Group PLC bought a new stake in shares of APi Group during the second quarter valued at approximately $2,094,000. Capital Investment Services of America Inc. raised its stake in shares of APi Group by 5.4% in the second quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock valued at $20,283,000 after purchasing an additional 20,337 shares in the last quarter. Equitable Trust Co. lifted its position in APi Group by 60.5% in the second quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after purchasing an additional 12,630 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in APi Group by 11.1% in the second quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company’s stock worth $11,673,000 after purchasing an additional 22,832 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of APi Group 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 completion of the transaction, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 900,000 shares of company stock worth $32,342,000. Company insiders own 17.00% of the company’s stock.

Analyst Ratings Changes

APG has been the topic of several analyst reports. Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Barclays upped their target price on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research note on Monday. Finally, Citigroup upped their price objective on APi Group from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and an average target price of $38.52.

APi Group Trading Up 0.6%

Shares of APG stock opened at $38.96 on Friday. The company has a market capitalization of $16.20 billion, a P/E ratio of 106.25 and a beta of 1.72. APi Group Corporation has a 12-month low of $20.50 and a 12-month high of $39.65. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $36.10 and a 200 day moving average price of $34.72.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.41 earnings per share 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 firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

About APi Group

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.