BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,157 Shares of Vertiv Holdings Co (NYSE:VRT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Vertiv Holdings Co (NYSE:VRT) by 14.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,338 shares of the company’s stock after selling 10,157 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Vertiv were worth $5,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRT. Encompass More Asset Management raised its stake in shares of Vertiv by 39.6% during the 3rd quarter. Encompass More Asset Management now owns 3,478 shares of the company’s stock valued at $346,000 after purchasing an additional 987 shares during the period. Appian Way Asset Management LP purchased a new position in Vertiv during the 3rd quarter valued at about $8,656,000. Fred Alger Management LLC increased its position in shares of Vertiv by 24.5% during the third quarter. Fred Alger Management LLC now owns 3,320,425 shares of the company’s stock valued at $330,349,000 after buying an additional 652,436 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Vertiv by 28.4% in the third quarter. Verition Fund Management LLC now owns 121,497 shares of the company’s stock worth $12,088,000 after buying an additional 26,838 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Vertiv by 22.9% in the third quarter. Captrust Financial Advisors now owns 55,278 shares of the company’s stock valued at $5,500,000 after acquiring an additional 10,306 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

NYSE:VRT opened at $127.04 on Tuesday. Vertiv Holdings Co has a 1-year low of $43.66 and a 1-year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business has a 50 day moving average of $114.87 and a 200 day moving average of $96.26. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 84.69, a PEG ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is 6.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer increased their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. TD Cowen increased their price objective on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Citigroup raised their price target on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group began coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $138.50.

Insider Activity at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock worth $23,105,682 in the last ninety days. 5.01% of the stock is owned by company insiders.

Vertiv Company 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.