Navellier & Associates Inc. cut its holdings in Vertiv Holdings Co (NYSE:VRT – Free Report) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,741 shares of the company’s stock after selling 4,627 shares during the period. Vertiv comprises 1.2% of Navellier & Associates Inc.’s holdings, making the stock its 15th largest holding. Navellier & Associates Inc.’s holdings in Vertiv were worth $9,127,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Anchor Investment Management LLC bought a new position in shares of Vertiv in the 2nd quarter worth $26,000. Mather Group LLC. raised its position in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Vertiv during the 2nd quarter worth approximately $34,000. 89.92% of the stock is currently owned by institutional investors.
Insider Activity at Vertiv
In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by corporate insiders.
Vertiv Stock Up 0.6 %
Vertiv (NYSE:VRT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. On average, equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.
Vertiv Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is currently 6.67%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on VRT. TD Cowen lifted their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group started coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Citigroup boosted their price target on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. Evercore ISI boosted their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus target price of $138.50.
Read Our Latest Research Report on VRT
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.
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