Stonegate Investment Group LLC Cuts Position in Vertiv Holdings Co (NYSE:VRT)

Stonegate Investment Group LLC trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 51.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,071 shares of the company’s stock after selling 8,708 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vertiv were worth $910,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRT. The Manufacturers Life Insurance Company raised its stake in shares of Vertiv by 55.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,523 shares of the company’s stock worth $2,642,000 after purchasing an additional 10,884 shares during the period. Creative Planning raised its position in Vertiv by 5.8% in the second quarter. Creative Planning now owns 36,277 shares of the company’s stock worth $3,140,000 after acquiring an additional 2,004 shares during the period. NewEdge Advisors LLC boosted its stake in Vertiv by 24.7% in the second quarter. NewEdge Advisors LLC now owns 99,090 shares of the company’s stock valued at $8,578,000 after acquiring an additional 19,647 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Vertiv by 238.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,810 shares of the company’s stock valued at $1,542,000 after acquiring an additional 12,546 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in shares of Vertiv by 1.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 13,671 shares of the company’s stock worth $1,183,000 after purchasing an additional 231 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Price Performance

VRT stock opened at $106.14 on Wednesday. The firm has a 50 day simple moving average of $127.86 and a two-hundred day simple moving average of $105.60. 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 stock has a market cap of $39.84 billion, a PE ratio of 70.76, a P/E/G ratio of 1.16 and a beta of 1.63. Vertiv Holdings Co has a one year low of $53.30 and a one year high of $155.84.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insiders Place Their Bets

In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 over the last 90 days. Insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on VRT shares. Jefferies Financial Group began coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Evercore ISI cut their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Bank of America increased their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley assumed coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $139.36.

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.