New Age Alpha Advisors LLC Sells 5,000 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• New Age Alpha Advisors LLC sold 5,000 shares of Vertiv Holdings Co., reducing its position by 16.7%, leaving it with 25,000 shares valued at approximately $1.8 million.
• Vertiv reported a 35.1% year-over-year revenue increase of $2.64 billion in its recent quarterly earnings, with an EPS of $0.95 that exceeded analysts' expectations.
• The company recently announced a dividend increase to $0.0375 per share, representing a significant rise from its previous dividend, with a current payout ratio of 7.18%.

New Age Alpha Advisors LLC lessened its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company's stock after selling 5,000 shares during the quarter. New Age Alpha Advisors LLC's holdings in Vertiv were worth $1,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Vertiv by 21.9% during the 4th 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 buying an additional 812,389 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Vertiv by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock worth $240,051,000 after buying an additional 77,859 shares during the last quarter. New South Capital Management Inc. increased its holdings in shares of Vertiv by 1.7% during the first quarter. New South Capital Management Inc. now owns 2,110,392 shares of the company's stock worth $152,370,000 after buying an additional 34,643 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Vertiv by 7.5% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,193,773 shares of the company's stock valued at $135,625,000 after acquiring an additional 82,939 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Melius upgraded Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a report on Tuesday, July 8th. Cowen reiterated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. UBS Group lifted their target price on shares of Vertiv from $135.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Bank of America upped their price target on shares of Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Three research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.06.

Vertiv Trading Up 0.4%

Shares of VRT stock traded up $0.51 during trading hours on Friday, hitting $139.90. 3,728,787 shares of the company were exchanged, compared to its average volume of 7,917,655. The company has a 50 day simple moving average of $125.64 and a two-hundred day simple moving average of $105.00. The firm has a market cap of $53.32 billion, a P/E ratio of 66.94, a P/E/G 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. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Vertiv's revenue was up 35.1% on a year-over-year basis. Equities analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

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

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.63% of the company's stock.

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.