Sigma Planning Corp Decreases Position in Vertiv Holdings Co. (NYSE:VRT)

Sigma Planning Corp trimmed its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 67.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,254 shares of the company's stock after selling 17,226 shares during the quarter. Sigma Planning Corp's holdings in Vertiv were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in VRT. Prestige Wealth Management Group LLC increased its holdings in Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after purchasing an additional 85 shares in the last quarter. Horizon Investment Services LLC boosted its position in shares of Vertiv by 4.1% during the fourth 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 during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock worth $367,000 after purchasing an additional 97 shares during the last quarter. Utah Retirement Systems boosted its position in Vertiv by 0.3% in the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after purchasing an additional 100 shares during the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock valued at $1,000,000 after buying an additional 105 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Trading Down 1.5%

VRT stock traded down $1.94 during midday trading on Friday, reaching $129.18. 5,779,897 shares of the company traded hands, compared to its average volume of 8,560,204. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The business has a 50 day moving average of $116.14 and a 200-day moving average of $104.07. The firm has a market capitalization of $49.23 billion, a price-to-earnings ratio of 75.10, a P/E/G ratio of 1.28 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm 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%. The company's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. As a group, sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date was Monday, June 16th. This represents a yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is 8.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VRT. Roth Mkm began coverage on Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price on the stock. Citigroup raised their target price on Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Melius raised Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research report on Tuesday, July 8th. Mizuho set a $150.00 price objective on Vertiv and gave the stock an "outperform" rating in a report on Wednesday. Finally, Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $134.00 to $165.00 in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $136.76.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred on 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 owned 18,847 shares of the company's stock, valued at $1,777,837.51. This represents 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 the stock in a transaction on 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 sale, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

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.