Citigroup Inc. Has $59.64 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Citigroup Inc. lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 262.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599,502 shares of the company’s stock after buying an additional 434,216 shares during the quarter. Citigroup Inc. owned about 0.16% of Vertiv worth $59,644,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in shares of Vertiv during the 2nd quarter worth approximately $26,000. Mather Group LLC. grew its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new position in Vertiv during the third quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in Vertiv during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT opened at $140.15 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $145.67. The firm’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $95.20. The firm has a market cap of $52.60 billion, a P/E ratio of 93.43, a PEG ratio of 1.45 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm 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 $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is currently 6.67%.

Insider Transactions at Vertiv

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the company’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 sale, the director now directly owns 3,425 shares in the company, valued at $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock valued at $10,074,936 over the last 90 days. 5.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRT. UBS Group began coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Profile

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.