Oppenheimer & Co. Inc. Decreases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Oppenheimer & Co. Inc. lowered its position in Vertiv Holdings Co (NYSE:VRT) by 6.7% during the third quarter, Holdings Channel reports. The institutional investor owned 45,679 shares of the company’s stock after selling 3,273 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Vertiv were worth $4,545,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in Vertiv in the third quarter valued at approximately $29,000. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the 2nd quarter valued at $26,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter worth $30,000. Mather Group LLC. grew its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Vertiv during the 3rd quarter valued at about $36,000. Institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday. They set a “buy” rating and a $155.00 price objective for the company. Finally, TD Cowen upped their target price on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has a consensus rating of “Buy” and a consensus target price of $125.40.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by insiders.

Vertiv Price Performance

NYSE:VRT opened at $121.07 on Friday. The firm’s fifty day moving average is $103.47 and its two-hundred day moving average is $93.30. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 80.71, a PEG ratio of 1.34 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30.

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

Vertiv Announces Dividend

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

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.