Bard Financial Services Inc. Sells 1,250 Shares of Vertiv Holdings Co (NYSE:VRT)

Bard Financial Services Inc. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,175 shares of the company’s stock after selling 1,250 shares during the period. Bard Financial Services Inc.’s holdings in Vertiv were worth $2,107,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VRT. Anchor Investment Management LLC bought a new stake in Vertiv during the 2nd quarter valued at about $26,000. Krane Funds Advisors LLC bought a new position in shares of Vertiv in the third quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the third quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Vertiv in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 in the last three months. Corporate insiders own 5.01% of the company’s stock.

Vertiv Trading Up 2.1 %

Shares of NYSE VRT opened at $124.20 on Wednesday. The company has a market cap of $46.62 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 1.38 and a beta of 1.61. Vertiv Holdings Co has a fifty-two week low of $44.31 and a fifty-two week high of $145.67. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The business’s 50 day moving average price is $119.12 and its 200-day moving average price is $97.69.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) 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%. Vertiv’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is a positive change 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 is 6.67%.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of research analyst reports. TD Cowen upped their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. 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. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $139.90.

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.