New South Capital Management Inc. Sells 646,424 Shares of Vertiv Holdings Co (NYSE:VRT)

New South Capital Management Inc. cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,598,846 shares of the company’s stock after selling 646,424 shares during the period. Vertiv comprises approximately 10.1% of New South Capital Management Inc.’s holdings, making the stock its biggest position. New South Capital Management Inc. owned 0.69% of Vertiv worth $224,982,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after buying an additional 1,766,784 shares during the last quarter. Coatue Management LLC lifted its position in Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Norges Bank acquired a new position in Vertiv during the 4th quarter valued at about $185,339,000. Finally, Westfield Capital Management Co. LP grew its position in Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRT. Bank of America lifted their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and cut their target price 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. The Goldman Sachs Group cut their price objective 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. Finally, TD Cowen increased their target price 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $96.22.

Vertiv Trading Down 4.5 %

Shares of VRT stock opened at $71.77 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a 50-day simple moving average of $80.72 and a 200 day simple moving average of $84.02. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $109.27. The stock has a market capitalization of $26.87 billion, a P/E ratio of 69.01, a P/E/G ratio of 1.08 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a $0.025 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.14%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity

In related 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 transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.01% of the company’s stock.

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.