BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Vertiv Holdings Co (NYSE:VRT) by 71.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,821 shares of the company’s stock after selling 27,014 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Vertiv were worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Scotia Capital Inc. purchased a new position in Vertiv during the third quarter valued at approximately $219,000. Toroso Investments LLC acquired a new stake in shares of Vertiv in the third quarter worth approximately $982,000. Comerica Bank acquired a new position in Vertiv during the third quarter worth $10,918,000. USA Financial Formulas boosted its stake in Vertiv by 31.5% during the third quarter. USA Financial Formulas now owns 2,809 shares of the company’s stock worth $104,000 after buying an additional 673 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Vertiv by 2.0% during the third quarter. American Century Companies Inc. now owns 1,641,552 shares of the company’s stock worth $61,066,000 after buying an additional 32,734 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Oppenheimer upped their price target on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Citigroup boosted their price target on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Mizuho lifted their price target on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group raised their price target on shares of Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a report on Friday, May 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $92.11.

Insiders Place Their Bets

In related news, insider Yibin Edward Cui sold 668 shares of the stock in a transaction on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Yibin Edward Cui sold 668 shares of the firm’s stock in a transaction that occurred on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Doherty Philip O’ sold 9,529 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,162,739 shares of company stock worth $400,713,362. 5.01% of the stock is currently owned by company insiders.

Vertiv Stock Up 0.6 %

Shares of VRT traded up $0.52 on Wednesday, hitting $93.28. The company’s stock had a trading volume of 2,081,115 shares, compared to its average volume of 8,403,141. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 87.67, a P/E/G ratio of 1.34 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $25.09 and a fifty-two week high of $109.27. The firm’s fifty day moving average price is $94.59 and its 200-day moving average price is $76.72.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Vertiv Holdings Co will post 2.43 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv’s payout ratio is 9.62%.

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.