Vertiv Holdings Co. (NYSE:VRT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 66.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,492 shares of the company's stock after selling 579,556 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Vertiv worth $22,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the 4th quarter worth approximately $597,379,000. Norges Bank purchased a new position in shares of Vertiv in the 4th quarter valued at about $391,777,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Vertiv by 136.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after buying an additional 1,928,275 shares during the last quarter. Vanguard Group Inc. boosted its stake in Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after purchasing an additional 990,361 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction dated 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 sale, the insider owned 18,847 shares in the company, valued at approximately $1,777,837.51. This 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 company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on VRT shares. Morgan Stanley lowered their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. KGI Securities initiated coverage on shares of Vertiv in a research report on Thursday, April 24th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Cowen reiterated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Finally, Barclays lowered their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Stock Performance

Vertiv stock traded up $1.76 during mid-day trading on Wednesday, reaching $124.30. The company's stock had a trading volume of 5,589,961 shares, compared to its average volume of 8,552,034. The firm has a market cap of $47.37 billion, a price-to-earnings ratio of 72.27, a PEG ratio of 1.28 and a beta of 1.75. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The business has a 50 day moving average price of $106.62 and a 200-day moving average price of $103.28. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09.

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

Vertiv Increases Dividend

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

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.