Citigroup Inc. Purchases 434,216 Shares of Vertiv Holdings Co (NYSE:VRT)

by · The Cerbat Gem

Citigroup Inc. raised its stake in Vertiv Holdings Co (NYSE:VRT – Free Report) by 262.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 599,502 shares of the company’s stock after buying an additional 434,216 shares during the period. Citigroup Inc.’s holdings in Vertiv were worth $59,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Trust N.A. increased its holdings in shares of Vertiv by 123.1% in the third quarter. Raymond James Trust N.A. now owns 5,833 shares of the company’s stock valued at $580,000 after purchasing an additional 3,218 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of Vertiv in the third quarter valued at $3,278,000. L & S Advisors Inc increased its holdings in shares of Vertiv by 3.9% in the third quarter. L & S Advisors Inc now owns 22,976 shares of the company’s stock valued at $2,286,000 after purchasing an additional 863 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Vertiv by 32.1% in the third quarter. Intech Investment Management LLC now owns 43,448 shares of the company’s stock valued at $4,323,000 after purchasing an additional 10,550 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Vertiv by 14.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,992 shares of the company’s stock valued at $42,481,000 after purchasing an additional 52,408 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer upped their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average target price of $138.50.

Get Our Latest Analysis on Vertiv

Insider Transactions at Vertiv

In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock valued at $10,074,936 in the last quarter. 5.01% of the stock is currently owned by company insiders.

Vertiv Stock Down 0.9 %

Shares of NYSE VRT opened at $140.15 on Friday. The company has a 50 day simple moving average of $110.94 and a 200 day simple moving average of $95.20. The firm has a market cap of $52.60 billion, a PE ratio of 93.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT – Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, research analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

About Vertiv

(Free Report)

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

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