Massachusetts Financial Services Co. MA Sells 3,888,920 Shares of Vertiv Holdings Co. (NYSE:VRT)

Massachusetts Financial Services Co. MA lessened its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 74.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,369,237 shares of the company's stock after selling 3,888,920 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.36% of Vertiv worth $98,859,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC raised its stake in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Vertiv during the fourth quarter worth approximately $37,000. TD Private Client Wealth LLC raised its stake in shares of Vertiv by 150.7% during the fourth quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock worth $42,000 after purchasing an additional 223 shares during the last quarter. BNP Paribas purchased a new stake in shares of Vertiv during the fourth quarter worth approximately $45,000. Finally, North Star Investment Management Corp. raised its stake in shares of Vertiv by 4,120.0% during the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was 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 $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VRT shares. The Goldman Sachs Group restated a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. Cowen reiterated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. Bank of America increased their price objective on Vertiv from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, KGI Securities began coverage on Vertiv in a research report on Thursday, April 24th. They issued a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Vertiv has a consensus rating of "Buy" and a consensus target price of $136.76.

Vertiv Stock Performance

Shares of NYSE VRT traded down $1.94 during trading on Friday, reaching $129.18. The stock had a trading volume of 5,755,975 shares, compared to its average volume of 8,576,491. The stock has a market cap of $49.23 billion, a PE ratio of 75.10, a P/E/G ratio of 1.25 and a beta of 1.75. The firm's 50 day moving average price is $115.44 and its two-hundred day moving average price is $104.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84.

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 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 business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company's revenue was up 24.2% on a year-over-year basis. On average, research analysts forecast 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. Shareholders of record on Tuesday, June 17th were given a $0.0375 dividend. This is a positive change from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio is presently 8.72%.

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.