Mount Lucas Management LP Sells 183 Shares of Vertiv Holdings Co (NYSE:VRT)

Mount Lucas Management LP cut its position in shares of Vertiv Holdings Co (NYSE:VRT) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,188 shares of the company’s stock after selling 183 shares during the quarter. Mount Lucas Management LP’s holdings in Vertiv were worth $795,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VRT. M&T Bank Corp increased its position in shares of Vertiv by 52.2% during the fourth quarter. M&T Bank Corp now owns 20,468 shares of the company’s stock worth $983,000 after buying an additional 7,019 shares during the period. Metis Global Partners LLC acquired a new stake in shares of Vertiv during the fourth quarter worth $218,000. Spire Wealth Management grew its holdings in Vertiv by 19.4% in the fourth quarter. Spire Wealth Management now owns 6,756 shares of the company’s stock worth $324,000 after purchasing an additional 1,099 shares during the period. Private Advisor Group LLC acquired a new stake in Vertiv in the fourth quarter worth $1,018,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Vertiv by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,479,937 shares of the company’s stock worth $119,111,000 after purchasing an additional 57,936 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Bank of America raised their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Evercore ISI reiterated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $96.22.

Vertiv Stock Down 4.5 %

Shares of VRT traded down $3.38 during trading hours on Friday, reaching $71.77. 8,197,940 shares of the stock traded hands, compared to its average volume of 8,600,201. 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 stock has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $84.02. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a market cap of $26.87 billion, a price-to-earnings ratio of 69.01, a PEG ratio of 1.08 and a beta of 1.58.

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

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.