Oppenheimer & Co. Inc. Cuts Holdings in Vertiv Holdings Co (NYSE:VRT)

Oppenheimer & Co. Inc. reduced its position in Vertiv Holdings Co (NYSE:VRT) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,679 shares of the company’s stock after selling 3,273 shares during the period. Oppenheimer & Co. Inc.’s holdings in Vertiv were worth $4,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the 2nd quarter worth approximately $26,000. Mather Group LLC. lifted its position in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Vertiv in the 3rd quarter worth $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv in the 3rd quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Vertiv in the 2nd quarter worth about $34,000. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Down 2.8 %

Shares of NYSE:VRT opened at $121.07 on Friday. The business’s 50 day moving average is $103.47 and its 200 day moving average is $93.30. The stock has a market cap of $45.44 billion, a P/E ratio of 80.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $130.30. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

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

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. Vertiv’s dividend payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRT shares. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. The Goldman Sachs Group reduced their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI boosted their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. UBS Group began coverage on Vertiv in a research note on Wednesday. They set a “buy” rating and a $155.00 target price on the stock. Finally, Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $125.40.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.01% of the company’s stock.

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.