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

BOCHK Asset Management Ltd reduced its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 98.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC.

Several other institutional investors and hedge funds have also made changes to their positions 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 valued at $30,000 after buying an additional 412 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 214 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Vertiv during the fourth quarter worth approximately $37,000. TD Private Client Wealth LLC grew its position in Vertiv by 150.7% during 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 shares of Vertiv during the 1st quarter valued at $43,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. The Goldman Sachs Group raised their target price on shares of Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays lifted their price objective on shares of Vertiv from $90.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price on the stock in a report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $132.94.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of Vertiv 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 owned 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Karsten Winther sold 5,500 shares of Vertiv 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 directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Vertiv Trading Up 2.0%

NYSE:VRT traded up $2.54 during trading hours on Wednesday, hitting $128.43. The company had a trading volume of 4,900,546 shares, compared to its average volume of 8,539,833. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $111.72 and a 200 day moving average of $103.70. The company has a market cap of $48.95 billion, a P/E ratio of 74.67, a P/E/G ratio of 1.25 and a beta of 1.75. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last announced 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. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. Sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio (DPR) is 8.72%.

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.