Corebridge Financial Inc. Sells 274 Shares of Vertiv Holdings Co (NYSE:VRT)

Corebridge Financial Inc. lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,602 shares of the company’s stock after selling 274 shares during the quarter. Corebridge Financial Inc.’s holdings in Vertiv were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Silverleafe Capital Partners LLC bought a new stake in Vertiv during the 4th quarter valued at $4,219,000. Foundations Investment Advisors LLC raised its stake in shares of Vertiv by 7.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock valued at $21,076,000 after acquiring an additional 13,559 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Vertiv by 67.0% during the fourth quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock worth $1,043,000 after purchasing an additional 3,682 shares during the period. Gordian Capital Singapore Pte Ltd grew its stake in shares of Vertiv by 112.5% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock worth $846,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Vertiv by 3,417.9% during the 4th quarter. Nordea Investment Management AB now owns 964,104 shares of the company’s stock valued at $110,544,000 after purchasing an additional 936,698 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of several research analyst reports. Barclays dropped their price objective on Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday. Evercore ISI cut their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Morgan Stanley initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective on the stock. Citigroup raised their target price on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Fox Advisors initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.67.

Vertiv Stock Performance

Shares of VRT opened at $59.42 on Monday. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 46.43, a P/E/G ratio of 1.07 and a beta of 1.71. The business’s fifty day simple moving average is $95.23 and its two-hundred day simple moving average is $111.10. Vertiv Holdings Co has a 12 month low of $55.32 and a 12 month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the firm posted $0.56 EPS. Research analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s dividend payout ratio is 11.72%.

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.