CreativeOne Wealth LLC Cuts Position in Vertiv Holdings Co (NYSE:VRT)

CreativeOne Wealth LLC reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 41.8% in the third quarter, HoldingsChannel reports. The firm owned 2,826 shares of the company’s stock after selling 2,033 shares during the period. CreativeOne Wealth LLC’s holdings in Vertiv were worth $281,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the second quarter valued at approximately $331,091,000. Blue Whale Capital LLP acquired a new stake in Vertiv in the third quarter valued at approximately $93,481,000. Swedbank AB grew its holdings 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 purchasing an additional 480,394 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Vertiv during the third quarter worth $43,771,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, insider Anand Sanghi sold 30,914 shares of the firm’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 in the company, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Mizuho raised their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Finally, Citigroup upped their price objective 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $127.04 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 1 year low of $43.66 and a 1 year high of $145.67. The firm has a market capitalization of $47.68 billion, a PE ratio of 84.69, a P/E/G ratio of 1.31 and a beta of 1.58. The business’s 50 day moving average price is $114.87 and its 200-day moving average price is $96.26.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend 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 currently 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.