Phoenix Financial Ltd. Cuts Position in Vertiv Holdings Co. $VRT

Phoenix Financial Ltd. cut its holdings in Vertiv Holdings Co. (NYSE:VRT) by 32.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,335 shares of the company’s stock after selling 15,391 shares during the period. Phoenix Financial Ltd.’s holdings in Vertiv were worth $4,620,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Alta Wealth Advisors LLC bought a new position in Vertiv in the 3rd quarter valued at $452,000. Bensler LLC bought a new stake in shares of Vertiv during the 3rd quarter worth $2,940,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Vertiv by 4.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,791 shares of the company’s stock worth $6,004,000 after buying an additional 1,852 shares during the last quarter. Sovran Advisors LLC grew its position in Vertiv by 15.2% during the third quarter. Sovran Advisors LLC now owns 28,588 shares of the company’s stock valued at $4,313,000 after buying an additional 3,780 shares during the period. Finally, OneAscent Financial Services LLC increased its holdings in Vertiv by 7.3% during the third quarter. OneAscent Financial Services LLC now owns 6,919 shares of the company’s stock worth $1,044,000 after buying an additional 471 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRT shares. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Vertiv in a research report on Thursday, January 15th. The Goldman Sachs Group increased their price objective on Vertiv from $182.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Mizuho boosted their target price on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Cfra Research raised Vertiv to a “moderate buy” rating in a research report on Tuesday, October 7th. Finally, Oppenheimer lifted their price objective on Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 5,501 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the sale, the executive vice president directly owned 4,050 shares in the company, valued at $690,444. This represents a 57.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.01% of the stock is owned by insiders.

Vertiv Price Performance

Vertiv stock opened at $180.89 on Tuesday. The firm has a market capitalization of $69.16 billion, a P/E ratio of 68.26, a PEG ratio of 1.12 and a beta of 2.06. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.43. The business has a fifty day moving average price of $171.03 and a 200-day moving average price of $157.50.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $0.25 annualized dividend and a yield of 0.1%. This is an increase from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s dividend payout ratio is 9.43%.

Vertiv Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.