Advisors Asset Management Inc. Lowers Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Advisors Asset Management Inc. cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 49.0% in the third quarter, Holdings Channel reports. The institutional investor owned 10,638 shares of the company’s stock after selling 10,203 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vertiv were worth $1,058,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC raised its position in Vertiv by 1,019.3% during the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after acquiring an additional 3,649 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Vertiv during the 1st quarter worth about $456,000. Jacobs Levy Equity Management Inc. acquired a new stake in Vertiv in the 1st quarter worth about $3,018,000. Dynasty Wealth Management LLC purchased a new stake in Vertiv during the 1st quarter worth approximately $637,000. Finally, California State Teachers Retirement System increased its stake in Vertiv by 5.8% during the 1st quarter. California State Teachers Retirement System now owns 579,672 shares of the company’s stock worth $47,342,000 after buying an additional 31,839 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on VRT shares. Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

Vertiv stock opened at $132.03 on Tuesday. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 88.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $111.84 and a 200-day simple moving average of $95.42. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the 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 completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,185 shares of company stock valued at $10,074,936 over the last 90 days. 5.01% of the stock is owned by company insiders.

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.