Vertiv Holdings Co (NYSE:VRT) is Cannell & Co.’s 9th Largest Position

Cannell & Co. decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 33.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,451,650 shares of the company’s stock after selling 742,225 shares during the period. Vertiv makes up 2.2% of Cannell & Co.’s investment portfolio, making the stock its 9th largest position. Cannell & Co.’s holdings in Vertiv were worth $69,723,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VRT. First Horizon Advisors Inc. lifted its holdings in shares of Vertiv by 161.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after acquiring an additional 409 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Vertiv in the 4th quarter worth approximately $26,000. Clearstead Advisors LLC bought a new stake in Vertiv during the 3rd quarter valued at $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Vertiv during the 4th quarter valued at $38,000. Finally, TFC Financial Management Inc. bought a new stake in Vertiv during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the sale, the director now directly owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the sale, the director now directly owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Liang sold 306,196 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,362,790 shares of company stock valued at $306,451,347. 5.62% of the stock is owned by corporate insiders.

Vertiv Stock Performance

Shares of NYSE:VRT traded down $5.32 during trading on Wednesday, hitting $87.68. The company’s stock had a trading volume of 4,764,040 shares, compared to its average volume of 8,209,275. The company has a 50-day moving average of $77.77 and a 200-day moving average of $58.46. Vertiv Holdings Co has a 12 month low of $14.27 and a 12 month high of $95.70. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 1.35. The firm has a market cap of $33.49 billion, a price-to-earnings ratio of 85.66, a P/E/G ratio of 1.43 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, sell-side analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is 9.62%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America upped their price target on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 18th. Oppenheimer upped their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Citigroup boosted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Mizuho boosted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.11.

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.