Hsbc Holdings PLC Sells 53,990 Shares of Vertiv Holdings Co (NYSE:VRT)

Hsbc Holdings PLC lowered its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,285 shares of the company’s stock after selling 53,990 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Vertiv worth $17,419,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in Vertiv in the 1st quarter worth about $25,000. Atticus Wealth Management LLC purchased a new position in Vertiv during the 1st quarter worth $27,000. Mather Group LLC. raised its position in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Vertiv in the 2nd quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Vertiv during the 1st quarter worth $34,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $94.54 on Monday. The company has a 50 day moving average of $79.49 and a two-hundred day moving average of $85.45. The company has a market cap of $35.39 billion, a price-to-earnings ratio of 90.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27.

Vertiv (NYSE:VRT) last announced its earnings results 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. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

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

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.