Bard Financial Services Inc. Sells 1,250 Shares of Vertiv Holdings Co (NYSE:VRT)

Bard Financial Services Inc. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,175 shares of the company’s stock after selling 1,250 shares during the period. Bard Financial Services Inc.’s holdings in Vertiv were worth $2,107,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VRT. State Street Corp grew its holdings in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after buying an additional 408,054 shares in the last quarter. Jennison Associates LLC grew its holdings in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Wellington Management Group LLP raised its holdings in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the 2nd quarter valued at about $331,091,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 in the last 90 days. Company insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of a number of research reports. Bank of America raised their price objective on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup increased their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $139.90.

Vertiv Price Performance

VRT opened at $124.20 on Wednesday. The stock has a market capitalization of $46.62 billion, a P/E ratio of 81.16, a PEG ratio of 1.38 and a beta of 1.61. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $44.31 and a 12-month high of $145.67. The stock has a 50-day moving average price of $119.12 and a 200-day moving average price of $97.69.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. Equities analysts predict 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. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend 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 6.67%.

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.