Beck Capital Management LLC Reduces Holdings in Vertiv Holdings Co (NYSE:VRT)

Beck Capital Management LLC lessened its position in Vertiv Holdings Co (NYSE:VRT) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,214 shares of the company’s stock after selling 5,258 shares during the period. Vertiv comprises about 2.3% of Beck Capital Management LLC’s portfolio, making the stock its 7th largest holding. Beck Capital Management LLC’s holdings in Vertiv were worth $8,776,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. grew its holdings in Vertiv by 531.7% during the third quarter. Benjamin Edwards Inc. now owns 2,110 shares of the company’s stock worth $210,000 after purchasing an additional 1,776 shares during the period. Aureus Asset Management LLC acquired a new stake in shares of Vertiv in the third quarter valued at approximately $266,000. Avalon Global Asset Management LLC lifted its position in shares of Vertiv by 122.2% in the third quarter. Avalon Global Asset Management LLC now owns 100,000 shares of the company’s stock valued at $9,949,000 after buying an additional 55,000 shares during the last quarter. TOMS Capital Investment Management LP bought a new position in shares of Vertiv during the 3rd quarter worth approximately $48,103,000. Finally, Paloma Partners Management Co acquired a new position in shares of Vertiv during the 3rd quarter worth approximately $495,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Up 0.5 %

NYSE VRT opened at $127.60 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company has a market cap of $47.89 billion, a price-to-earnings ratio of 85.07, a PEG ratio of 1.31 and a beta of 1.58. The company has a 50 day moving average of $114.87 and a 200-day moving average of $96.26. Vertiv Holdings Co has a 1-year low of $42.50 and a 1-year high of $145.67.

Vertiv (NYSE:VRT) last announced its quarterly earnings data 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. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, equities research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $843,254.58. This trade represents a 80.99 % 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 link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,451 shares of company stock valued at $26,699,153 in the last ninety days. 5.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Bank of America lifted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup raised their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average price target of $138.50.

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.