Thornburg Investment Management Inc. Has $27.26 Million Stock Position in Vertiv Holdings Co (NYSE:VRT)

Thornburg Investment Management Inc. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 239,907 shares of the company's stock after selling 32,784 shares during the period. Thornburg Investment Management Inc. owned 0.06% of Vertiv worth $27,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company's stock valued at $21,076,000 after buying an additional 13,559 shares in the last quarter. Empowered Funds LLC increased its position in Vertiv by 67.0% during the fourth quarter. Empowered Funds LLC now owns 9,180 shares of the company's stock worth $1,043,000 after acquiring an additional 3,682 shares during the period. Register Financial Advisors LLC acquired a new stake in Vertiv in the 4th quarter worth about $217,000. Ibex Wealth Advisors acquired a new stake in Vertiv in the 4th quarter worth about $7,583,000. Finally, PFG Investments LLC bought a new stake in Vertiv in the 4th quarter valued at about $617,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VRT shares. Citigroup dropped their price target on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cowen reiterated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Melius lowered Vertiv from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a report on Tuesday, January 28th. Melius Research reaffirmed a "hold" rating and issued a $125.00 price target on shares of Vertiv in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.06.

Vertiv Stock Performance

Vertiv stock opened at $106.01 on Friday. The business has a 50 day moving average of $82.70 and a 200-day moving average of $106.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. Vertiv Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84. The company has a market capitalization of $40.40 billion, a P/E ratio of 82.82, a P/E/G ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company's revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

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

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