Vertiv Holdings Co. (NYSE:VRT) Shares Sold by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd decreased its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 98.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,100 shares of the company's stock after selling 78,350 shares during the quarter. BOCHK Asset Management Ltd's holdings in Vertiv were worth $79,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRT. Prestige Wealth Management Group LLC increased its position 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 valued at $420,000 after purchasing an additional 85 shares during the last quarter. Horizon Investment Services LLC increased its position 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 valued at $274,000 after purchasing an additional 95 shares during the last quarter. 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 increased its position in shares of 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 purchasing an additional 100 shares during the last quarter. Finally, Wahed Invest LLC increased its position in shares of 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 purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Analysts Set New Price Targets

VRT has been the subject of a number of recent research reports. Citigroup boosted their price objective on Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, June 16th. KGI Securities initiated coverage on Vertiv in a research note on Thursday, April 24th. They set a "hold" rating for the company. JPMorgan Chase & Co. boosted their price objective on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Evercore ISI reiterated an "outperform" rating and set a $150.00 price objective (up from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Finally, Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $134.00 to $165.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $132.94.

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider owned 18,847 shares of the company's stock, valued at $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the transaction, the executive vice president directly owned 9,551 shares of the company's stock, 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 5.01% of the company's stock.

Vertiv Price Performance

Shares of Vertiv stock traded up $2.64 during trading hours on Wednesday, reaching $128.53. 2,545,025 shares of the company's stock were exchanged, compared to its average volume of 8,521,032. 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 $48.98 billion, a P/E ratio of 74.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.75. The business has a fifty day moving average of $110.86 and a two-hundred day moving average of $103.53. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

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

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0375 dividend. The ex-dividend date of this dividend was 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 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.