Thornburg Investment Management Inc. Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

Thornburg Investment Management Inc. decreased its holdings 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 and Exchange Commission. The institutional investor owned 239,907 shares of the company's stock after selling 32,784 shares during the quarter. Thornburg Investment Management Inc. owned 0.06% of Vertiv worth $27,256,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRT. Vanguard Group Inc. lifted its stake in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Jennison Associates LLC increased its position in shares of Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after purchasing an additional 3,153,932 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertiv by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after buying an additional 99,181 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Vertiv during the 4th quarter valued at about $597,379,000. Finally, Wellington Management Group LLP lifted its position in Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after buying an additional 990,361 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Up 0.5%

Shares of VRT stock traded up $0.51 during midday trading on Thursday, reaching $104.12. 1,689,053 shares of the stock were exchanged, compared to its average volume of 8,982,741. The firm has a market cap of $39.68 billion, a PE ratio of 81.40, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. 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's 50 day moving average is $83.90 and its two-hundred day moving average is $105.96. Vertiv Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results 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. 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 61.41% and a net margin of 6.19%. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.14%. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on VRT shares. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Morgan Stanley reduced their target price on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a research note on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.06.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were 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. This trade 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 accessible through this link. 2.63% of the stock is currently owned by corporate insiders.

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.