Vertiv Holdings Co. (NYSE:VRT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 98.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,897 shares of the company's stock after selling 140,752 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Vertiv were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its holdings in shares of Vertiv by 2.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after acquiring an additional 85 shares during the period. Horizon Investment Services LLC raised its holdings in shares of Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after acquiring an additional 95 shares during the period. Focus Partners Advisor Solutions LLC raised its holdings 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 worth $367,000 after acquiring an additional 97 shares during the period. Utah Retirement Systems raised its holdings in shares of Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after acquiring an additional 100 shares during the period. Finally, Wahed Invest LLC raised its holdings in shares of Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insider Activity

In other news, insider Karsten Winther sold 5,500 shares of the business's 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 now owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction on 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 transaction, the executive vice president now directly owns 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Roth Mkm assumed coverage on Vertiv in a research report on Tuesday, April 8th. They set a "buy" rating and a $75.00 price objective for the company. Barclays cut their price objective on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. KGI Securities assumed coverage on Vertiv in a research report on Thursday, April 24th. They set a "hold" rating for the company. Morgan Stanley cut their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Cowen reaffirmed a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Price Performance

Shares of NYSE VRT opened at $118.69 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The stock has a 50 day moving average of $99.40 and a two-hundred day moving average of $103.67. The stock has a market cap of $45.23 billion, a P/E ratio of 69.01, a P/E/G ratio of 1.20 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. On average, research analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 0.14%. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.