Allspring Global Investments Holdings LLC Sells 71,168 Shares of Vertiv Holdings Co (NYSE:VRT)

Allspring Global Investments Holdings LLC lowered its position in Vertiv Holdings Co (NYSE:VRT) by 4.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,377,192 shares of the company’s stock after selling 71,168 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Vertiv were worth $137,017,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter valued at approximately $331,091,000. Price T Rowe Associates Inc. MD grew its stake in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the period. Castle Hook Partners LP bought a new stake in shares of Vertiv in the first quarter valued at about $135,987,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction 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 transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Down 1.8 %

NYSE:VRT traded down $2.03 during mid-day trading on Friday, hitting $112.25. The stock had a trading volume of 4,167,846 shares, compared to its average volume of 8,342,292. The company has a market capitalization of $42.02 billion, a PE ratio of 107.93, a PEG ratio of 1.42 and a beta of 1.59. The stock has a 50-day simple moving average of $90.31 and a two-hundred day simple moving average of $89.26. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $116.19.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $0.46 EPS. Vertiv’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer increased their price target on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Evercore ISI upped their price objective on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Bank of America lifted their price target on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $112.44.

About Vertiv

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.