Vertiv Holdings Co (NYSE:VRT) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 93.6% during the second quarter, Holdings Channel.com reports. The fund owned 5,979 shares of the company’s stock after selling 87,663 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vertiv were worth $518,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VRT. CWM LLC boosted its stake in Vertiv by 64.1% during 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 last quarter. GAMMA Investing LLC acquired a new stake in Vertiv during the 4th quarter worth $26,000. Atria Wealth Solutions Inc. acquired a new stake in Vertiv during the 4th quarter worth $867,000. Truist Financial Corp boosted its stake in Vertiv by 94.2% during the 4th quarter. Truist Financial Corp now owns 72,752 shares of the company’s stock worth $3,494,000 after purchasing an additional 35,286 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Vertiv by 2.7% during the 4th quarter. Victory Capital Management Inc. now owns 632,877 shares of the company’s stock worth $30,397,000 after purchasing an additional 16,462 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Up 3.9 %

Shares of VRT opened at $83.01 on Friday. The firm has a market cap of $31.07 billion, a P/E ratio of 79.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27. The company’s 50-day moving average price is $81.94 and its 200 day moving average price is $83.43. The company has a current ratio of 1.36, a quick ratio of 0.98 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last issued its quarterly earnings data 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. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. TD Cowen boosted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America boosted their price target on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has an average rating of “Buy” and an average price target of $96.22.

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.