Thornburg Investment Management Inc. Sells 37,195 Shares of Vertiv Holdings Co (NYSE:VRT)

Thornburg Investment Management Inc. cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 10.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,035 shares of the company’s stock after selling 37,195 shares during the period. Thornburg Investment Management Inc. owned about 0.09% of Vertiv worth $27,647,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Vertiv by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after acquiring an additional 119 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Vertiv by 33.2% during the 1st quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock worth $45,000 after acquiring an additional 137 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Vertiv by 66.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRT has been the topic of several recent analyst reports. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. TD Cowen raised their target price 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 raised Vertiv from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Bank of America raised their target price on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $96.22.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Up 9.2 %

Vertiv stock opened at $82.39 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The business has a 50 day simple moving average of $80.01 and a 200-day simple moving average of $84.36. The stock has a market capitalization of $30.84 billion, a PE ratio of 79.22, a price-to-earnings-growth ratio of 0.94 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.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.46 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

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.