Royce & Associates LP Reduces Holdings in Vertiv Holdings Co (NYSE:VRT)

Royce & Associates LP trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,458 shares of the company’s stock after selling 9,716 shares during the period. Royce & Associates LP’s holdings in Vertiv were worth $9,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the 2nd quarter valued at $26,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Vertiv during the 3rd quarter valued at $29,000. Global Trust Asset Management LLC acquired a new position in Vertiv in the 3rd quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in Vertiv in the 2nd quarter worth $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of NYSE:VRT opened at $120.87 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The firm has a 50-day simple moving average of $105.37 and a 200 day simple moving average of $93.71. The company has a market cap of $45.37 billion, a PE ratio of 80.58, a P/E/G ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. On average, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 6.67%.

Analyst Ratings Changes

A number of equities analysts have commented on VRT shares. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Bank of America boosted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $125.40.

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.