Navellier & Associates Inc. Sells 4,627 Shares of Vertiv Holdings Co (NYSE:VRT)

Navellier & Associates Inc. lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,741 shares of the company’s stock after selling 4,627 shares during the period. Vertiv accounts for approximately 1.2% of Navellier & Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Navellier & Associates Inc.’s holdings in Vertiv were worth $9,127,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its holdings in shares of Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares during the period. Janney Capital Management LLC acquired a new position in Vertiv during the 3rd quarter valued at about $8,403,000. Assenagon Asset Management S.A. boosted its stake in shares of Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after buying an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after purchasing an additional 9,479 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $138.35 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a market cap of $51.93 billion, a PE ratio of 91.71, a P/E/G ratio of 1.53 and a beta of 1.58. The firm has a 50-day simple moving average of $108.75 and a two-hundred day simple moving average of $94.57. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $141.76.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio is 6.67%.

Analysts Set New Price Targets

VRT has been the subject of several research reports. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Mizuho increased their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and an average target price of $138.50.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by insiders.

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.