Oppenheimer & Co. Inc. Cuts Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Oppenheimer & Co. Inc. reduced its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,442 shares of the company's stock after selling 20,541 shares during the period. Oppenheimer & Co. Inc.'s holdings in Vertiv were worth $4,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VRT. Brown Lisle Cummings Inc. grew its position in Vertiv by 15.9% during the 1st quarter. Brown Lisle Cummings Inc. now owns 23,837 shares of the company's stock valued at $1,721,000 after purchasing an additional 3,262 shares during the last quarter. Pursue Wealth Partners LLC purchased a new stake in shares of Vertiv during the first quarter valued at approximately $881,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Vertiv by 40.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 91,355 shares of the company's stock valued at $6,596,000 after buying an additional 26,154 shares during the last quarter. 1858 Wealth Management LLC grew its holdings in shares of Vertiv by 33.6% during the first quarter. 1858 Wealth Management LLC now owns 26,124 shares of the company's stock valued at $1,886,000 after buying an additional 6,563 shares during the last quarter. Finally, Kennedy Investment Group grew its holdings in shares of Vertiv by 20.7% during the first quarter. Kennedy Investment Group now owns 17,141 shares of the company's stock valued at $1,238,000 after buying an additional 2,941 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company's stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $5,059,801.89. Following the transaction, the executive vice president now owns 9,551 shares in the company, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on VRT shares. Wall Street Zen upgraded Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Morgan Stanley dropped their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Barclays dropped their price objective on Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Finally, The Goldman Sachs Group raised their price target on shares of Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.69.

Vertiv Trading Up 5.1%

Shares of Vertiv stock opened at $122.45 on Wednesday. The company's fifty day simple moving average is $101.30 and its 200-day simple moving average is $103.28. The stock has a market capitalization of $46.67 billion, a PE ratio of 71.19, a P/E/G ratio of 1.17 and a beta of 1.73. Vertiv Holdings Co. has a 1-year low of $53.60 and a 1-year high of $155.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results 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. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. Vertiv's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, equities analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.0375 per share. This is a boost from Vertiv's previous dividend of $0.01. This represents a dividend yield of 0.14%. The ex-dividend date is Monday, June 16th. Vertiv's payout ratio is presently 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.

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