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

Advisors Asset Management Inc. lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,638 shares of the company’s stock after selling 10,203 shares during the period. Advisors Asset Management Inc.’s holdings in Vertiv were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC raised its holdings in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Vertiv during the second quarter valued at approximately $331,091,000. Swedbank AB raised its stake in Vertiv by 247.5% in the second quarter. Swedbank AB now owns 674,493 shares of the company’s stock worth $58,391,000 after buying an additional 480,394 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Vertiv in the third quarter worth approximately $43,771,000. Finally, Generate Investment Management Ltd boosted its position in Vertiv by 180.8% during the 3rd quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after acquiring an additional 385,251 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $10,074,936 over the last 90 days. 5.01% of the stock is currently owned by company insiders.

Vertiv Price Performance

NYSE VRT opened at $132.03 on Tuesday. The stock’s fifty day moving average price is $111.84 and its 200 day moving average price is $95.42. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. 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 company has a market cap of $49.56 billion, a price-to-earnings ratio of 88.02, a PEG ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data 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. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm 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 an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio is 6.67%.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of analyst reports. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Citigroup lifted their price target on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv has a consensus rating of “Buy” and an average price target of $138.50.

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.