Mount Lucas Management LP Trims Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Mount Lucas Management LP decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,188 shares of the company’s stock after selling 183 shares during the period. Mount Lucas Management LP’s holdings in Vertiv were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of VRT. Bogart Wealth LLC purchased a new position in Vertiv during the first quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its stake in Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in Vertiv during the first quarter valued at approximately $27,000. Mather Group LLC. grew its stake 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 acquiring an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Trading Down 4.5 %

NYSE:VRT traded down $3.38 during midday trading on Friday, reaching $71.77. 8,197,940 shares of the stock traded hands, compared to its average volume of 8,600,201. The company has a fifty day moving average of $80.72 and a 200 day moving average of $84.02. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $26.87 billion, a P/E ratio of 69.01, a PEG ratio of 1.08 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.46 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, research 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 will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.14%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity 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 shares were 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 directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.