Vertiv Holdings Co (NYSE:VRT) Position Cut by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 25.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,282 shares of the company’s stock after selling 1,774 shares during the period. Sovereign Financial Group Inc.’s holdings in Vertiv were worth $526,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in shares of Vertiv in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its stake in Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in Vertiv during the 1st quarter worth $27,000. Mather Group LLC. grew its stake in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Vertiv during the first quarter valued at $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRT. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Evercore ISI increased their price target on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Jefferies Financial Group started coverage on Vertiv in a research note on Monday. They issued a “buy” rating and a $125.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $106.89.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

NYSE VRT opened at $106.82 on Wednesday. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The business’s fifty day moving average is $83.98 and its two-hundred day moving average is $87.67. The stock has a market capitalization of $39.99 billion, a P/E ratio of 102.71, a P/E/G ratio of 1.26 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’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 earned $0.46 earnings per share. On average, research analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

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.