Shelton Wealth Management LLC lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT – Free Report) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,398 shares of the company’s stock after selling 2,914 shares during the quarter. Shelton Wealth Management LLC’s holdings in Vertiv were worth $1,181,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares in the last quarter. Castle Hook Partners LP lifted its holdings in shares of Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in Vertiv during the third quarter valued at about $110,517,000. Finally, Blue Whale Capital LLP purchased a new position in shares of Vertiv in the 3rd quarter worth about $93,481,000. 89.92% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on VRT. TD Cowen boosted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup boosted their price target on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays began coverage on Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price objective on the stock. Mizuho boosted their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI reduced their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and a consensus price target of $141.75.
Insider Buying and Selling at Vertiv
In other news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 over the last 90 days. 5.01% of the stock is currently owned by corporate insiders.
Vertiv Price Performance
Shares of VRT opened at $135.94 on Friday. The firm has a 50 day moving average of $126.07 and a 200 day moving average of $103.50. Vertiv Holdings Co has a twelve month low of $49.67 and a twelve month high of $145.67. The company has a market capitalization of $51.02 billion, a P/E ratio of 90.63, a price-to-earnings-growth ratio of 0.99 and a beta of 1.63. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.
Vertiv (NYSE:VRT – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during 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 quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.
Vertiv Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is currently 6.67%.
Vertiv Company 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.
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