BOCHK Asset Management Ltd Sells 78,350 Shares of Vertiv Holdings Co. (NYSE:VRT)

BOCHK Asset Management Ltd trimmed its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 98.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the company's stock after selling 78,350 shares during the period. BOCHK Asset Management Ltd's holdings in Vertiv were worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. grew its holdings in Vertiv by 4,120.0% during the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after acquiring an additional 412 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 214 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Vertiv during the 4th quarter valued at $37,000. TD Private Client Wealth LLC boosted its position in shares of Vertiv by 150.7% in the 4th quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock worth $42,000 after purchasing an additional 223 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in Vertiv during the 1st quarter worth $43,000. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VRT has been the subject of several research analyst reports. Citigroup increased their price objective on shares of Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays cut their price target on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, 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 on the stock. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.69.

Insider Buying and Selling 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 sale, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was 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 in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Stock Performance

Shares of VRT stock remained flat at $126.26 on Tuesday. The stock had a trading volume of 6,636,229 shares, compared to its average volume of 8,544,458. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. 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 company has a market capitalization of $48.12 billion, a P/E ratio of 73.41, a P/E/G ratio of 1.27 and a beta of 1.75. The company has a 50-day moving average of $110.06 and a 200 day moving average of $103.37.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS 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 firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business's quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

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

Vertiv Company 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.