Petra Financial Advisors Inc. Lowers Stock Position in Vertiv Holdings Co (NYSE:VRT)

Petra Financial Advisors Inc. decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 35.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,360 shares of the company’s stock after selling 2,908 shares during the period. Petra Financial Advisors Inc.’s holdings in Vertiv were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co raised its holdings in Vertiv by 76.6% in the first quarter. Diversified Trust Co now owns 8,145 shares of the company’s stock worth $665,000 after purchasing an additional 3,532 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Vertiv by 13.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,087 shares of the company’s stock worth $65,751,000 after purchasing an additional 98,022 shares in the last quarter. Norden Group LLC acquired a new position in Vertiv during the 1st quarter valued at about $266,000. Kovack Advisors Inc. acquired a new stake in Vertiv in the first quarter worth about $471,000. Finally, Maryland State Retirement & Pension System grew its stake in shares of Vertiv by 2.9% during the first quarter. Maryland State Retirement & Pension System now owns 26,926 shares of the company’s stock worth $2,162,000 after acquiring an additional 748 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRT. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Oppenheimer increased their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $122.11.

Insider Transactions at Vertiv

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

Vertiv Price Performance

Shares of NYSE VRT traded down $3.73 during trading on Thursday, hitting $108.72. The company had a trading volume of 1,452,420 shares, compared to its average volume of 8,283,410. Vertiv Holdings Co has a fifty-two week low of $37.21 and a fifty-two 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 stock has a fifty day simple moving average of $95.70 and a two-hundred day simple moving average of $90.82. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 108.14, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend 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 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.