Park Avenue Securities LLC Sells 539 Shares of Vertiv Holdings Co (NYSE:VRT)

Park Avenue Securities LLC trimmed its position in shares of Vertiv Holdings Co (NYSE:VRT) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,825 shares of the company’s stock after selling 539 shares during the period. Park Avenue Securities LLC’s holdings in Vertiv were worth $721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new stake in shares of Vertiv in the fourth quarter worth approximately $1,040,000. Xponance Inc. boosted its stake in shares of Vertiv by 2.9% during the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after purchasing an additional 426 shares during the period. California State Teachers Retirement System grew its holdings in shares of Vertiv by 58.8% in the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock worth $26,312,000 after purchasing an additional 202,766 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after buying an additional 9,870 shares during the period. Finally, WT Asset Management Ltd bought a new stake in Vertiv during the 4th quarter valued at about $24,486,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Down 0.1 %

Shares of NYSE:VRT opened at $86.88 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market capitalization of $32.52 billion, a P/E ratio of 83.54, a P/E/G ratio of 1.34 and a beta of 1.56. The business’s 50-day moving average is $93.71 and its 200 day moving average is $73.87. Vertiv Holdings Co has a 1 year low of $23.07 and a 1 year high of $109.27.

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

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Insider Activity at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of Vertiv stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the sale, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Roger Fradin sold 16,667 shares of Vertiv stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 218,333 shares in the company, valued at $22,676,065.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Doherty Philip O’ sold 488,705 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the transaction, the director now directly owns 11,835,476 shares of the company’s stock, valued at $1,108,747,391.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,162,739 shares of company stock worth $400,713,362 over the last quarter. Insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Citigroup upped their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a report on Friday, May 17th. Bank of America increased their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Mizuho raised their target price 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.11.

About Vertiv

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.