Verus Capital Partners LLC Has $458,000 Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Verus Capital Partners LLC lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,599 shares of the company’s stock after selling 503 shares during the quarter. Verus Capital Partners LLC’s holdings in Vertiv were worth $458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearbridge Investments LLC grew its stake in Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares in the last quarter. Janney Capital Management LLC acquired a new position in Vertiv during the third quarter worth $8,403,000. Assenagon Asset Management S.A. raised its position in Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after acquiring an additional 36,684 shares in the last quarter. Finally, Generate Investment Management Ltd lifted its stake in Vertiv by 180.8% in the third quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after acquiring an additional 385,251 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Mizuho raised their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Bank of America increased their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $122.11.

Insiders Place Their Bets

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

Vertiv Stock Performance

Shares of NYSE VRT opened at $123.81 on Wednesday. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a market cap of $46.47 billion, a price-to-earnings ratio of 82.54, a P/E/G ratio of 1.38 and a beta of 1.58. The stock’s fifty day moving average price is $101.51 and its two-hundred day moving average price is $92.86.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for 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%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. On average, equities analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 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.