Ameriprise Financial Inc. Lowers Position in Vertiv Holdings Co (NYSE:VRT)

Ameriprise Financial Inc. lowered its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,665,905 shares of the company's stock after selling 546,040 shares during the quarter. Ameriprise Financial Inc. owned about 0.71% of Vertiv worth $303,066,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Vertiv by 51.4% in the 3rd quarter. Barclays PLC now owns 431,586 shares of the company's stock worth $42,940,000 after buying an additional 146,463 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Vertiv by 18.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,502 shares of the company's stock worth $660,000 after acquiring an additional 1,021 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Vertiv by 430.5% during the third quarter. Principal Financial Group Inc. now owns 165,557 shares of the company's stock valued at $16,471,000 after acquiring an additional 134,349 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vertiv by 50.1% in the 4th quarter. GAMMA Investing LLC now owns 2,857 shares of the company's stock worth $325,000 after purchasing an additional 953 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Vertiv by 3,417.9% in the 4th quarter. Nordea Investment Management AB now owns 964,104 shares of the company's stock worth $110,544,000 after purchasing an additional 936,698 shares in the last quarter. Institutional investors own 89.92% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on VRT. Evercore ISI reduced their price objective on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, January 17th. Roth Mkm started coverage on shares of Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Royal Bank of Canada assumed coverage on Vertiv in a research report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price objective on the stock. Citigroup reduced their target price on Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.38.

Vertiv Stock Performance

VRT stock traded down $1.57 during midday trading on Friday, reaching $94.17. 6,364,741 shares of the company's stock traded hands, compared to its average volume of 9,013,115. The stock's 50-day moving average is $80.47 and its 200 day moving average is $106.24. The stock has a market cap of $35.89 billion, a P/E ratio of 73.57, a PEG ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the firm earned $0.43 EPS. Vertiv's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.16%. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.63% of the stock is currently owned by insiders.

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.