Great Lakes Advisors LLC Reduces Stake in Vertiv Holdings Co. $VRT

Great Lakes Advisors LLC trimmed its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 60.0% during the third quarter, Holdings Channel reports. The firm owned 2,550 shares of the company’s stock after selling 3,826 shares during the quarter. Great Lakes Advisors LLC’s holdings in Vertiv were worth $385,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. grew its stake in Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Vertiv by 67.6% in the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. True Wealth Design LLC grew its position in shares of Vertiv by 54.0% in the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after purchasing an additional 68 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Finally, Promus Capital LLC acquired a new position in shares of Vertiv during the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

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

Vertiv Trading Up 2.1%

NYSE VRT opened at $190.15 on Tuesday. The company has a market cap of $72.70 billion, a P/E ratio of 71.75, a P/E/G ratio of 1.14 and a beta of 2.08. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month 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 company has a 50-day moving average of $173.61 and a 200-day moving average of $159.77.

Vertiv Increases Dividend

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

Wall Street Analyst Weigh In

VRT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $216.00 target price on Vertiv and gave the company a “buy” rating in a report on Wednesday, October 15th. Mizuho increased their price objective on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Vertiv in a research report on Thursday, January 15th. Weiss Ratings lowered shares of Vertiv from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, UBS Group lifted their price target on shares of Vertiv from $173.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.89.

About Vertiv

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.