Allspring Global Investments Holdings LLC Sells 503,144 Shares of Vertiv Holdings Co (NYSE:VRT)

Allspring Global Investments Holdings LLC lowered its position in Vertiv Holdings Co (NYSE:VRT) by 36.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,048 shares of the company’s stock after selling 503,144 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of Vertiv worth $103,271,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in VRT. SOA Wealth Advisors LLC. bought a new stake in shares of Vertiv in the fourth quarter worth about $26,000. Krane Funds Advisors LLC bought a new stake in Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new stake in Vertiv during the 3rd quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC raised its holdings in Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. Finally, Brooklyn Investment Group bought a new position in Vertiv in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 over the last quarter. Company insiders own 5.01% of the company’s stock.

Vertiv Trading Down 9.7 %

NYSE VRT opened at $111.34 on Thursday. The stock has a 50 day moving average of $124.27 and a 200-day moving average of $108.09. Vertiv Holdings Co has a 12 month low of $55.00 and a 12 month high of $155.84. The company has a market cap of $41.79 billion, a PE ratio of 74.23, a PEG ratio of 0.94 and a beta of 1.64. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.7 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analysts Forecast Growth

VRT has been the subject of several research reports. Oppenheimer increased their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. TD Cowen increased 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. Evercore ISI cut their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays started coverage on Vertiv in a research note on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

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.