BOCHK Asset Management Ltd Trims Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

BOCHK Asset Management Ltd lowered its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 98.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. grew its position in shares of Vertiv by 2,000.0% in the 4th quarter. Assetmark Inc. now owns 546 shares of the company's stock worth $62,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC purchased a new position in Vertiv during the 4th quarter valued at about $14,495,000. Vestmark Advisory Solutions Inc. purchased a new stake in Vertiv in the fourth quarter worth about $453,000. Machina Capital S.A.S. purchased a new stake in Vertiv in the fourth quarter worth about $865,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Vertiv by 8.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,325 shares of the company's stock worth $291,000 after purchasing an additional 180 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VRT shares. KGI Securities started coverage on shares of Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. Morgan Stanley lowered their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup increased their target price on Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, Roth Mkm initiated coverage on Vertiv in a research report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Vertiv presently has an average rating of "Buy" and an average price target of $132.94.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm'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 transaction, the insider directly owned 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 SEC, which is accessible through 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 completion of the transaction, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

Vertiv Stock Performance

Shares of VRT traded down $7.56 during mid-day trading on Thursday, hitting $120.81. 24,663,904 shares of the company traded hands, compared to its average volume of 8,604,001. 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 stock has a 50-day moving average price of $111.72 and a two-hundred day moving average price of $103.70. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 70.24, a P/E/G ratio of 1.25 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) 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 net margin of 7.92% and a return on equity of 56.01%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. Equities analysts anticipate 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. Investors of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This represents a yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is 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.