Kingsview Wealth Management LLC Sells 90 Shares of Vertiv Holdings Co (NYSE:VRT)

Kingsview Wealth Management LLC cut its position in Vertiv Holdings Co (NYSE:VRT) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,654 shares of the company’s stock after selling 90 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Vertiv were worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the third quarter valued at $29,000. Anchor Investment Management LLC bought a new stake in shares of Vertiv in the second quarter valued at $26,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv in the third quarter valued at $30,000. Mather Group LLC. grew its position in shares of 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 purchasing an additional 200 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Vertiv in the third quarter valued at $36,000. 89.92% of the stock is currently owned by institutional investors.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value 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 approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 216,451 shares of company stock worth $26,699,153. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Price Performance

VRT opened at $126.94 on Friday. The stock has a 50-day moving average price of $114.21 and a 200-day moving average price of $96.11. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $47.65 billion, a P/E ratio of 84.63, a PEG ratio of 1.36 and a beta of 1.58.

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

Vertiv Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRT. Bank of America lifted their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Evercore ISI lifted their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho lifted their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $138.50.

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.