Forsta AP Fonden Sells 57,400 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Forsta AP Fonden has reduced its stake in Vertiv Holdings Co. by 43.7%, now holding 73,811 shares valued at approximately $5.33 million.
• Vertiv recently reported a quarterly earnings per share of $0.95, exceeding analysts' estimates and demonstrating a substantial revenue increase of 35.1% year-over-year.
• The company announced a dividend increase, now providing $0.0375 per share, reflecting a significant yield of 14.0% compared to the previous dividend.

Forsta AP Fonden reduced its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 43.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,811 shares of the company's stock after selling 57,400 shares during the quarter. Forsta AP Fonden's holdings in Vertiv were worth $5,329,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VRT. Ibex Wealth Advisors boosted its stake in Vertiv by 10.5% during the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock worth $5,324,000 after acquiring an additional 6,989 shares in the last quarter. Gallo Partners LP bought a new position in Vertiv during the fourth quarter worth $1,826,000. Viking Fund Management LLC boosted its stake in Vertiv by 123.5% during the first quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock worth $2,744,000 after acquiring an additional 21,000 shares in the last quarter. Outlook Wealth Advisors LLC bought a new position in Vertiv during the first quarter worth $475,000. Finally, Maxi Investments CY Ltd boosted its stake in Vertiv by 160.3% during the first quarter. Maxi Investments CY Ltd now owns 26,025 shares of the company's stock worth $1,879,000 after acquiring an additional 16,025 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Price Performance

Vertiv stock traded up $3.99 during mid-day trading on Tuesday, hitting $143.82. 6,185,424 shares of the company traded hands, compared to its average volume of 7,620,705. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The stock has a market cap of $54.92 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The stock has a fifty day moving average price of $126.25 and a 200-day moving average price of $104.31.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The business's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. On average, equities analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid 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 dividend yield of 14.0%. Vertiv's payout ratio is presently 7.18%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Citigroup raised their price objective on shares of Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wolfe Research reissued an "outperform" rating and set a $155.00 price target on shares of Vertiv in a research report on Thursday, July 10th. Mizuho raised their price target on shares of Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Vertiv presently has an average rating of "Moderate Buy" and an average target price of $144.06.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president directly owned 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.01% of the stock is currently owned by insiders.

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.