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LPL Financial LLC Reduces Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Vertiv logo with Computer and Technology background

Key Points

  • LPL Financial LLC reduced its holdings in Vertiv Holdings Co. by 7.0%, selling 42,628 shares, and now owns 565,756 shares valued at $40.8 million.
  • In the last quarter, several hedge funds, including Geode Capital Management and UBS AM, significantly increased their stakes in Vertiv, indicating growing institutional interest.
  • Vertiv recently reported a 35.1% year-over-year increase in revenue with an EPS of $0.95, surpassing estimates, and also announced an increase in its dividend yield to 14.0%.
  • MarketBeat previews top five stocks to own in September.

LPL Financial LLC lowered its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 565,756 shares of the company's stock after selling 42,628 shares during the quarter. LPL Financial LLC owned about 0.15% of Vertiv worth $40,848,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock worth $688,260,000 after buying an additional 99,181 shares during the period. Northern Trust Corp boosted its stake in shares of Vertiv by 21.9% in the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock valued at $308,251,000 after purchasing an additional 487,909 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Vertiv by 15.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,404,712 shares of the company's stock valued at $273,199,000 after purchasing an additional 327,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Vertiv by 54.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock valued at $263,000,000 after purchasing an additional 812,389 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Vertiv by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock valued at $240,051,000 after purchasing an additional 77,859 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Stock Performance

Shares of Vertiv stock opened at $141.66 on Friday. The firm's fifty day simple moving average is $122.46 and its 200-day simple moving average is $104.87. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The stock has a market capitalization of $53.99 billion, a price-to-earnings ratio of 67.78, a PEG ratio of 1.36 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. Vertiv's revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 14.0%. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is presently 7.18%.

Analysts Set New Price Targets

VRT has been the subject of several recent research reports. Royal Bank Of Canada raised their price objective on shares of Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a research note on Thursday. Evercore ISI reissued an "outperform" rating on shares of Vertiv in a research note on Thursday, July 10th. UBS Group raised their price objective on shares of Vertiv from $135.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Barclays set a $128.00 price objective on shares of Vertiv and gave the company an "equal weight" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Vertiv presently has an average rating of "Moderate Buy" and a consensus price target of $144.06.

Check Out Our Latest Stock Report on VRT

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider directly owned 18,847 shares of the company's stock, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

Vertiv Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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