Tredje AP fonden Sells 890 Shares of Vertiv Holdings Co (NYSE:VRT)

Tredje AP fonden lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,973 shares of the company’s stock after selling 890 shares during the period. Tredje AP fonden’s holdings in Vertiv were worth $4,932,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings 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 buying an additional 170 shares during the period. Norges Bank bought a new position in Vertiv in the fourth quarter valued at approximately $185,339,000. PNC Financial Services Group Inc. increased its stake in Vertiv by 296.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares during the last quarter. Franklin Resources Inc. bought a new stake in Vertiv during the fourth quarter worth $1,406,000. Finally, Aigen Investment Management LP bought a new stake in Vertiv during the fourth quarter worth $454,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Vertiv Stock Performance

NYSE:VRT opened at $87.66 on Thursday. The stock’s 50-day moving average is $79.41 and its 200-day moving average is $85.04. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market cap of $32.82 billion, a P/E ratio of 84.29, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Equities research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

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

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 stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.