Thornburg Investment Management Inc. Sells 36,104 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Vertiv Holdings Co. by 15.0% during the first quarter, selling 36,104 shares and retaining 203,803 shares valued at approximately $14.7 million.
• Several large investors have increased their positions in Vertiv, with TD Private Client Wealth LLC significantly boosting its holdings by 37.5% during the same period.
• Vertiv recently announced a dividend increase from $0.01 to $0.0375, reflecting a dividend yield of 0.14% and a payout ratio of 8.72%.

Thornburg Investment Management Inc. lowered its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 203,803 shares of the company's stock after selling 36,104 shares during the quarter. Thornburg Investment Management Inc. owned 0.05% of Vertiv worth $14,715,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC increased its position in shares of Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after purchasing an additional 97 shares during the last quarter. Utah Retirement Systems boosted its holdings in Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after acquiring an additional 100 shares during the period. Wahed Invest LLC boosted its holdings in 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 acquiring an additional 105 shares during the period. Ellevest Inc. boosted its holdings in Vertiv by 5.9% during the 4th quarter. Ellevest Inc. now owns 2,393 shares of the company's stock valued at $272,000 after acquiring an additional 133 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in Vertiv by 37.5% during the 1st quarter. TD Private Client Wealth LLC now owns 510 shares of the company's stock valued at $37,000 after acquiring an additional 139 shares during the period. Institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of recent analyst reports. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. William Blair began coverage on Vertiv in a report on Monday. They issued an "outperform" rating for the company. Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Wolfe Research reissued an "outperform" rating and issued a $155.00 price target on shares of Vertiv in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $136.76.

Vertiv Stock Up 3.8%

Shares of VRT stock opened at $142.74 on Tuesday. The stock's 50-day simple moving average is $119.32 and its 200-day simple moving average is $104.08. 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 firm has a market capitalization of $54.40 billion, a PE ratio of 82.99, a P/E/G ratio of 1.37 and a beta of 1.75. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84.

Vertiv Increases Dividend

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

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. 5.01% 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.

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