Allianz Asset Management GmbH Lowers Position in Vertiv Holdings Co. (NYSE:VRT)

Allianz Asset Management GmbH decreased its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,260 shares of the company's stock after selling 148,925 shares during the period. Allianz Asset Management GmbH owned about 0.07% of Vertiv worth $19,946,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VRT. Horizon Investment Services LLC raised its position in Vertiv by 4.1% in the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after purchasing an additional 95 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after acquiring an additional 97 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Vertiv by 0.3% in the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after buying an additional 100 shares during the period. Wahed Invest LLC raised its position in shares of Vertiv by 1.2% during the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after purchasing an additional 105 shares during the period. Finally, Ellevest Inc. grew its position in shares of Vertiv by 5.9% in the 4th quarter. Ellevest Inc. now owns 2,393 shares of the company's stock valued at $272,000 after purchasing an additional 133 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VRT shares. UBS Group reaffirmed a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. KGI Securities assumed coverage on Vertiv in a research note on Thursday, April 24th. They set a "hold" rating on the stock. Finally, Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Vertiv presently has a consensus rating of "Buy" and a consensus price target of $136.76.

Vertiv Trading Up 5.1%

Vertiv stock traded up $6.65 during mid-day trading on Friday, hitting $137.52. 8,225,774 shares of the stock were exchanged, compared to its average volume of 6,826,359. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The firm's fifty day simple moving average is $118.59 and its two-hundred day simple moving average is $104.33. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 79.96, a PEG ratio of 1.30 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.43 EPS. The business's quarterly revenue was up 24.2% on a year-over-year basis. Analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 0.14%. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is currently 8.72%.

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

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.