Sei Investments Co. Sells 123,782 Shares of Vertiv Holdings Co (NYSE:VRT)

Sei Investments Co. lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 538,893 shares of the company’s stock after selling 123,782 shares during the quarter. Sei Investments Co. owned about 0.14% of Vertiv worth $46,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in Vertiv in the 1st quarter worth $25,000. Atticus Wealth Management LLC bought a new stake in shares of Vertiv in the first quarter valued at about $27,000. Mather Group LLC. boosted its position in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. OFI Invest Asset Management bought a new position in shares of Vertiv during the second quarter worth about $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Vertiv in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $94.54 on Monday. The company has a fifty day moving average price of $79.49 and a two-hundred day moving average price of $85.45. Vertiv Holdings Co has a one year low of $34.60 and a one year high of $109.27. The stock has a market cap of $35.39 billion, a P/E ratio of 90.90, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 50.79%. Vertiv’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, equities analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen lifted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has an average rating of “Buy” and an average target price of $102.13.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.