Steph & Co. Cuts Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Steph & Co. lowered its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 21.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,603 shares of the company’s stock after selling 1,556 shares during the period. Steph & Co.’s holdings in Vertiv were worth $269,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in Vertiv by 182.4% in the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after buying an additional 30,511,907 shares during the last quarter. Starboard Value LP purchased a new position in Vertiv in the fourth quarter valued at $230,880,000. BlackRock Inc. increased its holdings in Vertiv by 32.8% in the first quarter. BlackRock Inc. now owns 18,988,356 shares of the company’s stock valued at $265,836,000 after buying an additional 4,693,256 shares during the last quarter. Vanguard Group Inc. increased its holdings in Vertiv by 12.1% in the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after buying an additional 3,417,710 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Vertiv in the fourth quarter valued at $41,665,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT traded down $0.48 during mid-day trading on Wednesday, hitting $81.88. 6,142,111 shares of the company’s stock were exchanged, compared to its average volume of 7,490,151. Vertiv Holdings Co has a fifty-two week low of $11.95 and a fifty-two week high of $88.69. The firm has a market capitalization of $31.28 billion, a P/E ratio of 69.75, a P/E/G ratio of 1.28 and a beta of 1.59. The business’s 50 day moving average is $73.29 and its two-hundred day moving average is $55.26. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Vertiv Holdings Co will post 2.36 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is 8.47%.

Wall Street Analysts Forecast Growth

VRT has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Vertiv in a report on Friday, April 5th. They issued an “outperform” rating and a $96.00 target price on the stock. Bank of America increased their target price on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. raised their price objective on Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Mizuho raised their price objective on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Citigroup raised their price objective on Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.56.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares in the company, valued at $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% 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.