Vertiv Holdings Co (NYSE:VRT) Shares Sold by FORA Capital LLC

FORA Capital LLC trimmed its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 58.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 48,301 shares of the company’s stock after selling 68,830 shares during the quarter. FORA Capital LLC’s holdings in Vertiv were worth $4,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC lifted its stake in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the second quarter valued at approximately $331,091,000. Westfield Capital Management Co. LP lifted its position in shares of Vertiv by 1.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after acquiring an additional 40,696 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the period. Finally, Renaissance Technologies LLC grew its position in Vertiv by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock worth $218,512,000 after purchasing an additional 169,700 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated 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 completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,832 shares of company stock worth $15,346,000 over the last three months. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Performance

VRT stock traded down $4.34 during midday trading on Wednesday, hitting $127.40. 1,501,908 shares of the company traded hands, compared to its average volume of 8,181,121. The stock has a market capitalization of $47.82 billion, a price-to-earnings ratio of 87.78, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The business has a 50 day simple moving average of $112.73 and a 200-day simple moving average of $95.67.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is presently 6.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America increased their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group began coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Cowen boosted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $138.50.

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.