RiverPark Advisors LLC Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

RiverPark Advisors LLC trimmed its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 26.7% during the 3rd quarter, Holdings Channel reports. The fund owned 381 shares of the company’s stock after selling 139 shares during the quarter. RiverPark Advisors LLC’s holdings in Vertiv were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the second quarter worth about $331,091,000. Janus Henderson Group PLC increased its stake in shares of Vertiv by 17.7% during the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after buying an additional 451,830 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. UBS Group began coverage on shares of Vertiv in a report on Wednesday. They issued a “buy” rating and a $155.00 target price on the stock. Oppenheimer boosted their price target on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen lifted their price objective on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and a consensus target price of $125.40.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Down 0.1 %

Vertiv stock opened at $120.87 on Friday. The company’s 50-day moving average price is $105.37 and its two-hundred day moving average price is $93.68. The stock has a market cap of $45.37 billion, a price-to-earnings ratio of 80.58, a PEG ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $130.30. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating 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 business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. 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 6.67%.

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.