Vertiv Holdings Co (NYSE:VRT) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 29.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,151 shares of the company’s stock after selling 2,137 shares during the period. Pallas Capital Advisors LLC’s holdings in Vertiv were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the 2nd quarter valued at approximately $331,091,000. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP bought a new stake in shares of Vertiv in the first quarter worth $135,987,000. Finally, Westfield Capital Management Co. LP raised its holdings in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after acquiring an additional 1,563,466 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRT has been the subject of several research analyst reports. Mizuho boosted their target price on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Oppenheimer boosted their price target on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $122.11.

Vertiv Price Performance

Shares of VRT opened at $112.47 on Thursday. Vertiv Holdings Co has a 12 month low of $37.21 and a 12 month high of $116.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a fifty day moving average price of $95.70 and a 200 day moving average price of $90.82. The company has a market cap of $42.19 billion, a P/E ratio of 108.14, a PEG ratio of 1.47 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, research analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.

Vertiv Company 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.