Vertiv Holdings Co. $VRT Stock Position Lessened by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its stake in Vertiv Holdings Co. (NYSE:VRT) by 84.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,842 shares of the company’s stock after selling 15,301 shares during the quarter. Meridian Wealth Management LLC’s holdings in Vertiv were worth $429,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Financial Management Professionals Inc. lifted its stake in shares of Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 156 shares during the period. Promus Capital LLC acquired a new position in shares of Vertiv during the second quarter valued at approximately $26,000. Pacer Advisors Inc. raised its holdings in Vertiv by 67.6% during the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Avion Wealth raised its holdings in Vertiv by 99.1% during the second quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in Vertiv by 54.0% during the 3rd quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. KGI Securities upgraded shares of Vertiv from a “hold” rating to an “outperform” rating in a report on Thursday, October 23rd. UBS Group upped their price target on Vertiv from $173.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Citigroup raised their price objective on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, The Goldman Sachs Group boosted their target price on Vertiv from $182.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Vertiv currently has an average rating of “Moderate Buy” and a consensus target price of $187.89.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $170.48, for a total value 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. This represents a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Vertiv Price Performance

VRT opened at $190.10 on Wednesday. The firm has a market capitalization of $72.68 billion, a P/E ratio of 71.74, a PEG ratio of 1.17 and a beta of 2.08. The stock has a fifty day moving average of $174.03 and a 200-day moving average of $160.20. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $202.45.

Vertiv Increases Dividend

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

Vertiv Company 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.