Polar Asset Management Partners Inc. Sells 16,160 Shares of Vertiv Holdings Co (NYSE:VRT)

Polar Asset Management Partners Inc. reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 41.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,800 shares of the company's stock after selling 16,160 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Vertiv were worth $2,590,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock worth $128,000 after purchasing an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings in Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after acquiring an additional 85 shares in the last quarter. Horizon Investment Services LLC grew its holdings in Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock valued at $274,000 after buying an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its holdings in Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after buying an additional 97 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after buying an additional 100 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.63% of the stock is owned by insiders.

Vertiv Stock Down 0.7%

NYSE VRT traded down $0.73 during trading on Friday, hitting $107.74. 6,931,195 shares of the company traded hands, compared to its average volume of 8,913,535. Vertiv Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84. The business has a fifty day simple moving average of $86.34 and a 200 day simple moving average of $105.21. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $41.06 billion, a P/E ratio of 84.17, a PEG ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The firm's revenue was up 24.2% compared to the same quarter last year. As a group, sell-side analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. Vertiv's dividend payout ratio is presently 8.72%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. The Goldman Sachs Group decreased their price target on Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Citigroup reduced their price objective on Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. increased their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $150.00 target price (up from $100.00) on shares of Vertiv in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.38.

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.