Bamco Inc. NY Sells 250,000 Shares of Vertiv Holdings Co (NYSE:VRT)

Bamco Inc. NY lessened its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,550,000 shares of the company’s stock after selling 250,000 shares during the quarter. Vertiv makes up 0.9% of Bamco Inc. NY’s portfolio, making the stock its 22nd largest holding. Bamco Inc. NY’s holdings in Vertiv were worth $353,190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. TOMS Capital Investment Management LP purchased a new stake in Vertiv in the 3rd quarter worth approximately $48,103,000. Paloma Partners Management Co bought a new position in shares of Vertiv in the third quarter worth approximately $495,000. Kestra Investment Management LLC increased its stake in shares of Vertiv by 19.4% in the third quarter. Kestra Investment Management LLC now owns 22,740 shares of the company’s stock worth $2,262,000 after purchasing an additional 3,694 shares in the last quarter. Alerus Financial NA raised its position in shares of Vertiv by 155.5% during the 3rd quarter. Alerus Financial NA now owns 50,347 shares of the company’s stock valued at $5,009,000 after purchasing an additional 30,642 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of analyst reports. Mizuho increased their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, Citigroup upped their target price on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $138.50.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock worth $26,699,153 over the last quarter. Insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $127.60 on Monday. The firm has a fifty day simple moving average of $114.87 and a two-hundred day simple moving average of $96.26. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $47.89 billion, a P/E ratio of 85.07, a PEG ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $42.50 and a 52 week high of $145.67.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

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.