Cherry Creek Investment Advisors Inc. Sells 19,900 Shares of Vertiv Holdings Co (NYSE:VRT)

Cherry Creek Investment Advisors Inc. trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 42.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,986 shares of the company’s stock after selling 19,900 shares during the quarter. Vertiv makes up 1.4% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in Vertiv were worth $2,685,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in Vertiv during the second quarter worth approximately $26,000. Atticus Wealth Management LLC purchased a new position in shares of Vertiv in the 1st quarter worth approximately $27,000. Mather Group LLC. raised its holdings in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new position in Vertiv during the third quarter worth $29,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Vertiv in the second quarter valued at $34,000. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRT. Evercore ISI lifted their target price on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho lifted their price target on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer increased their price objective on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $112.44.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Down 3.7 %

Shares of Vertiv stock opened at $108.26 on Thursday. The company has a market cap of $40.53 billion, a P/E ratio of 104.10, a PEG ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $116.41. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average price is $92.37 and its 200-day moving average price is $89.83.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

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.