Needham Investment Management LLC Reduces Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Needham Investment Management LLC lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 1.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 285,000 shares of the company’s stock after selling 3,000 shares during the period. Vertiv accounts for approximately 2.5% of Needham Investment Management LLC’s holdings, making the stock its 6th biggest position. Needham Investment Management LLC’s holdings in Vertiv were worth $32,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VRT. Fifth Third Bancorp boosted its position in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company’s stock valued at $128,000 after purchasing an additional 84 shares during the period. Prestige Wealth Management Group LLC lifted its stake in Vertiv by 2.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock valued at $420,000 after buying an additional 85 shares in the last quarter. Accurate Wealth Management LLC lifted its stake in Vertiv by 4.1% during the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company’s stock valued at $254,000 after buying an additional 87 shares in the last quarter. Horizon Investment Services LLC boosted its holdings in shares of Vertiv by 4.1% in the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock worth $274,000 after buying an additional 95 shares during the period. Finally, Utah Retirement Systems increased its position in shares of Vertiv by 0.3% in the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company’s stock worth $4,465,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VRT shares. The Goldman Sachs Group cut their target price on shares of Vertiv from $135.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on Vertiv from $132.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Evercore ISI dropped their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Roth Mkm began coverage on Vertiv in a research report on Tuesday, April 8th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Melius cut Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.38.

Vertiv Stock Performance

VRT opened at $100.96 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average price is $80.73 and its two-hundred day moving average price is $106.14. The firm has a market capitalization of $38.48 billion, a P/E ratio of 78.88, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. Vertiv’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.15%. Vertiv’s dividend payout ratio is 8.72%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.63% of the company’s stock.

Vertiv 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.