Park Avenue Securities LLC Lowers Position in Vertiv Holdings Co (NYSE:VRT)

Park Avenue Securities LLC decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,065 shares of the company’s stock after selling 1,220 shares during the quarter. Park Avenue Securities LLC’s holdings in Vertiv were worth $703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of VRT. Anchor Investment Management LLC purchased a new position in Vertiv in the 2nd quarter worth approximately $26,000. Atticus Wealth Management LLC purchased a new position in Vertiv in the first quarter worth $27,000. Mather Group LLC. increased its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Vertiv during the second quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Vertiv during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Trading Down 0.6 %

NYSE:VRT opened at $107.45 on Friday. The firm has a market capitalization of $40.22 billion, a P/E ratio of 103.32, a P/E/G ratio of 1.26 and a beta of 1.59. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.38. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a fifty day moving average of $84.57 and a 200 day moving average of $87.81.

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. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.46 earnings per share. Vertiv’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction 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 directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is currently owned by insiders.

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.