Advisors Asset Management Inc. Lowers Stock Position in Vertiv Holdings Co (NYSE:VRT)

Advisors Asset Management Inc. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,407 shares of the company’s stock after selling 2,096 shares during the period. Advisors Asset Management Inc.’s holdings in Vertiv were worth $1,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VRT. GAMMA Investing LLC boosted its position in shares of Vertiv by 22.3% during the first quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after buying an additional 119 shares during the period. Lindbrook Capital LLC boosted its holdings in Vertiv by 33.2% during the 1st quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock valued at $45,000 after acquiring an additional 137 shares during the period. Quadrant Capital Group LLC grew its position in Vertiv by 24.7% in the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in Vertiv by 66.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Vertiv by 23.9% during the first quarter. TFC Financial Management Inc. now owns 1,090 shares of the company’s stock worth $89,000 after purchasing an additional 210 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

Shares of NYSE VRT opened at $77.12 on Friday. The stock’s 50-day simple moving average is $91.90 and its 200-day simple moving average is $79.97. The firm has a market capitalization of $28.87 billion, a PE ratio of 74.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $25.09 and a fifty-two week high of $109.27. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s payout ratio is 9.62%.

Analysts Set New Price Targets

VRT has been the subject of a number of research reports. Mizuho lifted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their price objective on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Oppenheimer lifted their target price on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Bank of America upped their price target on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Transactions at Vertiv

In related news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Fradin sold 16,667 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the sale, the director now owns 218,333 shares of the company’s stock, valued at approximately $22,676,065.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,674,034 shares of company stock worth $354,931,478. Corporate insiders own 5.01% of the company’s stock.

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.