Fmr LLC Sells 11,669,655 Shares of Vertiv Holdings Co (NYSE:VRT)

Fmr LLC trimmed its position in Vertiv Holdings Co (NYSE:VRT) by 48.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,188,541 shares of the company’s stock after selling 11,669,655 shares during the period. Fmr LLC owned approximately 3.25% of Vertiv worth $1,212,638,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VRT. Anchor Investment Management LLC bought a new stake in shares of Vertiv in the second quarter valued at about $26,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the third quarter valued at about $29,000. Global Trust Asset Management LLC bought a new stake in Vertiv during the third quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in Vertiv during the second quarter worth about $34,000. 89.92% of the stock is currently owned by institutional investors.

Insider Transactions at Vertiv

In other Vertiv news, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the transaction, the director now owns 25,000 shares in the company, valued at $3,409,750. This trade represents a 60.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,832 shares of company stock worth $15,346,000. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

NYSE:VRT opened at $131.67 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average price is $112.73 and its two-hundred day moving average price is $95.67. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 87.78, a P/E/G ratio of 1.36 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67.

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

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VRT. Evercore ISI upped their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen upped their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $138.50.

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.