Edgestream Partners L.P. Sells 13,464 Shares of Vertiv Holdings Co (NYSE:VRT)

Edgestream Partners L.P. trimmed its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 32.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,827 shares of the company’s stock after selling 13,464 shares during the quarter. Edgestream Partners L.P.’s holdings in Vertiv were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Appian Way Asset Management LP acquired a new stake in Vertiv during the third quarter valued at approximately $8,656,000. Fred Alger Management LLC boosted its holdings in Vertiv by 24.5% during the third quarter. Fred Alger Management LLC now owns 3,320,425 shares of the company’s stock valued at $330,349,000 after purchasing an additional 652,436 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Vertiv by 28.4% during the third quarter. Verition Fund Management LLC now owns 121,497 shares of the company’s stock valued at $12,088,000 after purchasing an additional 26,838 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Vertiv by 22.9% in the 3rd quarter. Captrust Financial Advisors now owns 55,278 shares of the company’s stock worth $5,500,000 after acquiring an additional 10,306 shares in the last quarter. Finally, Icon Wealth Advisors LLC boosted its holdings in shares of Vertiv by 33.3% in the 3rd quarter. Icon Wealth Advisors LLC now owns 2,050 shares of the company’s stock worth $204,000 after acquiring an additional 512 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VRT has been the topic of several recent analyst reports. Citigroup boosted their target price on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. TD Cowen boosted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Evercore ISI upped their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Performance

Shares of Vertiv stock opened at $127.60 on Monday. The firm has a fifty day moving average of $114.87 and a two-hundred day moving average of $96.26. The stock has a market capitalization of $47.89 billion, a price-to-earnings 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. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed 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 represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This trade represents a 60.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,451 shares of company stock worth $26,699,153 in the last quarter. Corporate insiders own 5.01% of the company’s stock.

About Vertiv

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.