Calamos Advisors LLC Sells 166,945 Shares of Vertiv Holdings Co (NYSE:VRT)

Calamos Advisors LLC decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 78.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,821 shares of the company’s stock after selling 166,945 shares during the period. Calamos Advisors LLC’s holdings in Vertiv were worth $3,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRT. Xponance Inc. grew its holdings in shares of Vertiv by 2.9% in the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after buying an additional 426 shares during the period. abrdn plc boosted its stake in Vertiv by 56.0% in the 4th quarter. abrdn plc now owns 75,424 shares of the company’s stock worth $3,623,000 after purchasing an additional 27,087 shares during the period. CWM LLC boosted its stake in Vertiv by 64.1% in the 4th quarter. CWM LLC now owns 6,941 shares of the company’s stock worth $333,000 after purchasing an additional 2,710 shares during the period. Handelsbanken Fonder AB boosted its stake in Vertiv by 22.1% in the 4th quarter. Handelsbanken Fonder AB now owns 72,900 shares of the company’s stock worth $3,501,000 after purchasing an additional 13,200 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Vertiv by 169.2% during the 4th quarter. Jennison Associates LLC now owns 32,878 shares of the company’s stock worth $1,579,000 after buying an additional 20,663 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of NYSE VRT traded up $1.77 during trading hours on Friday, hitting $78.55. 4,990,721 shares of the stock were exchanged, compared to its average volume of 8,721,397. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.98 and a current ratio of 1.36. The company has a market cap of $29.40 billion, a PE ratio of 75.53, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. The company’s fifty day simple moving average is $83.13 and its two-hundred day simple moving average is $83.09.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VRT. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen upped their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a report on Thursday, August 15th. Bank of America upped their target price on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group lowered their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus price target of $96.22.

Insider Buying and Selling

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the transaction, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by corporate insiders.

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.