Lingotto Investment Management LLP Takes $4.60 Million Position in APi Group Co. (NYSE:APG)

Lingotto Investment Management LLP acquired a new position in shares of APi Group Co. (NYSE:APG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 128,000 shares of the company’s stock, valued at approximately $4,604,000.

Other institutional investors have also made changes to their positions in the company. Raymond James & Associates grew its position in shares of APi Group by 20.2% during the 3rd quarter. Raymond James & Associates now owns 173,774 shares of the company’s stock worth $5,738,000 after buying an additional 29,175 shares during the period. Asset Management One Co. Ltd. boosted its stake in APi Group by 1.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 72,493 shares of the company’s stock worth $2,394,000 after acquiring an additional 1,095 shares during the last quarter. Capital Investment Services of America Inc. acquired a new position in APi Group during the third quarter valued at approximately $9,941,000. River Road Asset Management LLC increased its stake in APi Group by 42.9% in the third quarter. River Road Asset Management LLC now owns 243,951 shares of the company’s stock valued at $8,055,000 after purchasing an additional 73,272 shares in the last quarter. Finally, Equitable Trust Co. raised its holdings in APi Group by 2.2% in the third quarter. Equitable Trust Co. now owns 20,325 shares of the company’s stock worth $671,000 after purchasing an additional 446 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

APi Group Price Performance

Shares of APG opened at $40.04 on Wednesday. The company has a 50 day moving average of $37.48 and a 200-day moving average of $35.93. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $11.00 billion, a P/E ratio of -20.33 and a beta of 1.55. APi Group Co. has a twelve month low of $31.44 and a twelve month high of $41.31.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APG. Truist Financial initiated coverage on shares of APi Group in a report on Wednesday, January 22nd. They issued a “buy” rating and a $45.00 price target for the company. Citigroup lowered their price target on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group cut their price objective on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Barclays increased their target price on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, William Blair restated an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.88.

APi Group 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.