Prime Capital Investment Advisors LLC lessened its stake in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 35.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,680 shares of the company’s stock after selling 4,239 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Vertiv were worth $986,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Vertiv by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 37,715,159 shares of the company’s stock valued at $2,723,034,000 after buying an additional 1,359,070 shares during the last quarter. Amundi lifted its holdings in Vertiv by 96.8% during the 1st quarter. Amundi now owns 6,951,773 shares of the company’s stock valued at $469,490,000 after purchasing an additional 3,420,144 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Vertiv by 19.6% during the 1st quarter. Fred Alger Management LLC now owns 3,496,060 shares of the company’s stock valued at $252,416,000 after purchasing an additional 572,545 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Vertiv by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,839,864 shares of the company’s stock valued at $205,085,000 after purchasing an additional 182,937 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Vertiv by 985.3% during the 1st quarter. 1832 Asset Management L.P. now owns 2,301,700 shares of the company’s stock valued at $166,183,000 after purchasing an additional 2,089,612 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
Vertiv Stock Up 0.8%
VRT opened at $168.80 on Friday. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $170.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market capitalization of $64.46 billion, a P/E ratio of 80.77, a P/E/G ratio of 1.47 and a beta of 1.84. The stock has a fifty day moving average of $138.90 and a 200-day moving average of $115.83.
Vertiv Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.0375 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is presently 7.18%.
Insider Buying and Selling
In related news, Director Jakki L. Haussler sold 15,680 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $123.92, for a total value of $1,943,065.60. Following the transaction, the director owned 4,631 shares in the company, valued at approximately $573,873.52. This trade represents a 77.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karsten Winther sold 41,654 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $134.21, for a total value of $5,590,383.34. Following the completion of the transaction, the insider owned 18,848 shares in the company, valued at $2,529,590.08. The trade was a 68.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,952 shares of company stock worth $23,360,571 over the last three months. Company insiders own 2.63% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on VRT. Glj Research began coverage on Vertiv in a report on Tuesday, August 19th. They set a “sell” rating and a $112.00 price target for the company. Bank of America raised their price target on Vertiv from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Melius raised Vertiv from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a report on Tuesday, July 8th. Oppenheimer raised their price target on Vertiv from $140.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group set a $159.00 price target on Vertiv in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.84.
View Our Latest Research Report on VRT
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.
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