Quaero Capital S.A. Trims Holdings in Vertiv Holdings Co. (NYSE:VRT)

Quaero Capital S.A. cut its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,251 shares of the company's stock after selling 5,075 shares during the quarter. Quaero Capital S.A.'s holdings in Vertiv were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sound View Wealth Advisors Group LLC acquired a new stake in shares of Vertiv during the fourth quarter valued at about $1,218,000. Schroder Investment Management Group boosted its position in shares of Vertiv by 95.3% during the 4th quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company's stock worth $135,621,000 after purchasing an additional 569,722 shares during the period. Bedell Frazier Investment Counselling LLC purchased a new position in shares of Vertiv during the 4th quarter worth approximately $415,000. Charles Schwab Investment Management Inc. increased its holdings in Vertiv by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company's stock valued at $198,376,000 after purchasing an additional 45,917 shares during the last quarter. Finally, Ibex Wealth Advisors raised its position in Vertiv by 10.5% in the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Up 3.0%

Shares of VRT traded up $3.68 during midday trading on Friday, reaching $127.48. The stock had a trading volume of 8,953,314 shares, compared to its average volume of 8,628,679. The company has a market cap of $48.58 billion, a price-to-earnings ratio of 74.12, a PEG ratio of 1.22 and a beta of 1.73. The company's fifty day simple moving average is $103.31 and its two-hundred day simple moving average is $103.39. 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 posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. During the same period last year, the firm earned $0.43 earnings per share. Vertiv's quarterly revenue was up 24.2% on a year-over-year basis. Equities research analysts expect 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 was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is currently 8.72%.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the sale, the executive vice president now owns 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This trade represents a 22.59% 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.

Analyst Ratings Changes

Several research firms have recently commented on VRT. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Morgan Stanley lowered their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada started coverage on Vertiv in a research report on Friday, March 7th. They issued an "outperform" rating and a $121.00 target price for the company. KGI Securities began coverage on shares of Vertiv in a research note on Thursday, April 24th. They set a "hold" rating on the stock. Finally, Wall Street Zen raised shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.69.

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.