Stephens Investment Management Group LLC Sells 151,111 Shares of Vertiv Holdings Co. (NYSE:VRT)

Stephens Investment Management Group LLC decreased its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 669,259 shares of the company's stock after selling 151,111 shares during the period. Stephens Investment Management Group LLC owned about 0.18% of Vertiv worth $48,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Prestige Wealth Management Group LLC increased its holdings in shares of Vertiv by 2.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after buying an additional 85 shares in the last quarter. Horizon Investment Services LLC increased its holdings 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 worth $274,000 after buying an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in shares of Vertiv by 3.1% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock worth $367,000 after buying an additional 97 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Vertiv by 0.3% during the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after buying an additional 100 shares in the last quarter. Finally, Wahed Invest LLC increased its holdings in shares of Vertiv by 1.2% during the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Evercore ISI reissued an "outperform" rating on shares of Vertiv in a report on Thursday. Roth Mkm started coverage on shares of Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. 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. Finally, Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and raised their price target for the company from $134.00 to $165.00 in a report on Tuesday, July 8th. Three equities research 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 company presently has a consensus rating of "Buy" and an average price target of $134.24.

Insiders Place Their Bets

In other news, 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 directly owned 9,551 shares of the company's stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Vertiv Trading Up 2.2%

VRT stock traded up $2.69 during midday trading on Friday, reaching $123.41. The company's stock had a trading volume of 7,216,508 shares, compared to its average volume of 8,618,671. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The stock has a market cap of $47.03 billion, a PE ratio of 71.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.75. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The business's 50-day simple moving average is $112.86 and its 200-day simple moving average is $103.65.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (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 net margin of 7.92% and a return on equity of 56.01%. The business's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect 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. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This represents a dividend yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

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.