D.A. Davidson & CO. Sells 2,897 Shares of Vertiv Holdings Co (NYSE:VRT)

D.A. Davidson & CO. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 39.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,519 shares of the company’s stock after selling 2,897 shares during the period. D.A. Davidson & CO.’s holdings in Vertiv were worth $450,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position in Vertiv by 513.6% in the first quarter. Cetera Investment Advisers now owns 57,311 shares of the company’s stock valued at $4,681,000 after purchasing an additional 47,971 shares during the last quarter. Cetera Advisors LLC raised its holdings in Vertiv by 41.1% in the 1st quarter. Cetera Advisors LLC now owns 9,252 shares of the company’s stock valued at $756,000 after buying an additional 2,695 shares during the last quarter. GAMMA Investing LLC boosted its position in Vertiv by 44.3% during the 2nd quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock worth $82,000 after buying an additional 289 shares during the period. Mather Group LLC. grew its holdings in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in Vertiv by 77.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 10,790 shares of the company’s stock valued at $934,000 after acquiring an additional 4,713 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on VRT shares. JPMorgan Chase & Co. boosted their price objective 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. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. UBS Group started coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Evercore ISI increased their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Citigroup boosted their price target on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus price target of $138.50.

Insider Activity

In other news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 over the last quarter. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Performance

NYSE:VRT opened at $128.14 on Wednesday. The firm has a market capitalization of $48.10 billion, a P/E ratio of 85.43, a P/E/G ratio of 1.31 and a beta of 1.61. Vertiv Holdings Co has a twelve month low of $43.66 and a twelve month high of $145.67. The company has a fifty day moving average of $116.11 and a 200-day moving average of $96.69. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

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.