Commonwealth Equity Services LLC Trims Stake in Vertiv Holdings Co (NYSE:VRT)

Commonwealth Equity Services LLC lessened its stake in Vertiv Holdings Co (NYSE:VRT) by 4.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,986 shares of the company’s stock after selling 717 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Vertiv were worth $361,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Vertiv during the 2nd quarter worth about $231,105,000. Vanguard Group Inc. grew its holdings in Vertiv by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 24,458,398 shares of the company’s stock worth $667,713,000 after acquiring an additional 2,005,431 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Vertiv by 185.1% during the 2nd quarter. Mackenzie Financial Corp now owns 2,717,432 shares of the company’s stock worth $74,186,000 after acquiring an additional 1,764,133 shares in the last quarter. State Street Corp grew its holdings in Vertiv by 35.7% during the 2nd quarter. State Street Corp now owns 3,690,855 shares of the company’s stock worth $100,760,000 after acquiring an additional 970,623 shares in the last quarter. Finally, FMR LLC grew its holdings in Vertiv by 5.5% during the 2nd quarter. FMR LLC now owns 15,691,937 shares of the company’s stock worth $428,390,000 after acquiring an additional 822,898 shares in the last quarter. 79.84% of the stock is currently owned by institutional investors.

A number of analysts have recently weighed in on the stock. Wolfe Research restated a “peer perform” rating on shares of Vertiv in a report on Tuesday, December 14th. Zacks Investment Research cut shares of Vertiv from a “buy” rating to a “hold” rating in a report on Wednesday, December 29th. Mizuho initiated coverage on shares of Vertiv in a report on Thursday, December 16th. They issued a “neutral” rating and a $27.00 price target on the stock. Citigroup initiated coverage on shares of Vertiv in a research note on Friday, November 26th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Vertiv from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, December 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertiv has a consensus rating of “Hold” and an average target price of $30.00.

VRT opened at $23.29 on Friday. Vertiv Holdings Co has a 12-month low of $18.53 and a 12-month high of $28.80. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $8.75 billion, a PE ratio of 47.53, a P/E/G ratio of 0.83 and a beta of 0.93. The firm has a 50 day moving average of $25.25 and a two-hundred day moving average of $25.68.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 27th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Vertiv had a net margin of 3.53% and a return on equity of 55.46%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. As a group, analysts predict that Vertiv Holdings Co will post 1.01 EPS for the current fiscal year.

The company also recently announced an annual dividend, which was paid on Thursday, December 16th. Stockholders of record on Wednesday, December 1st were issued a dividend of $0.01 per share. This represents a dividend yield of 0.04%. The ex-dividend date was Tuesday, November 30th. Vertiv’s dividend payout ratio (DPR) is 2.04%.

In other news, Director Vpe Holdings, Llc sold 21,925,000 shares of Vertiv stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $24.83, for a total transaction of $544,397,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.06% of the stock is owned by insiders.

Vertiv Company Profile

Vertiv Holdings Co engages in the design, manufacturing, and service of critical digital infrastructure technology that powers, cools, deploys, secures and maintains electronics that process, store and transmit data. It also offers power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure.

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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