SteelPeak Wealth LLC Decreases Stock Position in Vertiv Holdings Co (NYSE:VRT)

SteelPeak Wealth LLC decreased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,809 shares of the company’s stock after selling 5,225 shares during the period. SteelPeak Wealth LLC’s holdings in Vertiv were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in VRT. Silverleafe Capital Partners LLC purchased a new stake in Vertiv in the 4th quarter worth about $4,219,000. Foundations Investment Advisors LLC raised its holdings in shares of Vertiv by 7.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock worth $21,076,000 after buying an additional 13,559 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares during the last quarter. Whittier Trust Co. boosted its holdings in Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares during the period. Finally, Janney Capital Management LLC bought a new position in Vertiv in the 3rd quarter valued at $8,403,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VRT. JPMorgan Chase & Co. lifted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Mizuho boosted their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Tuesday. Oppenheimer boosted their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley started coverage on Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Vertiv Price Performance

Shares of VRT stock opened at $110.70 on Thursday. The company has a market cap of $41.55 billion, a P/E ratio of 73.80, a PEG ratio of 1.16 and a beta of 1.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock’s 50-day moving average is $127.16 and its 200 day moving average is $105.72. Vertiv Holdings Co has a 1-year low of $55.00 and a 1-year high of $155.84.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a $0.0375 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is presently 6.67%.

Insider Activity at Vertiv

In other news, 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 transaction of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the firm’s 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 completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock valued at $23,105,682 over the last 90 days. Insiders own 5.01% of the company’s stock.

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.