Horizon Investment Services LLC Lowers Holdings in Vertiv Holdings Co (NYSE:VRT)

Horizon Investment Services LLC lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 20.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,502 shares of the company’s stock after selling 1,416 shares during the quarter. Horizon Investment Services LLC’s holdings in Vertiv were worth $476,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC purchased a new stake in shares of Vertiv during the 1st quarter worth about $25,000. Atticus Wealth Management LLC purchased a new position in Vertiv in the 1st quarter worth approximately $27,000. Mather Group LLC. boosted its holdings in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. OFI Invest Asset Management purchased a new position in Vertiv in the 2nd quarter worth approximately $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of a number of analyst reports. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Finally, Bank of America upped their target price on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $96.22.

Vertiv Stock Performance

VRT stock opened at $75.15 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The firm has a market cap of $28.13 billion, a P/E ratio of 72.26, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27. The stock’s 50 day simple moving average is $81.01 and its 200 day simple moving average is $83.81.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity at Vertiv

In other news, 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 transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Vertiv 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.