EFG Asset Management Americas Corp. Cuts Holdings in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• EFG Asset Management Americas Corp. reduced its stake in Vertiv Holdings Co. by 8.4%, selling 2,812 shares during the first quarter, leaving it with 30,547 shares valued at approximately $2.2 million.
• Vertiv recently raised its dividend payout from $0.01 to $0.0375 per share, reflecting positive growth and a dividend yield of 0.14%.
• Analysts have generally favored Vertiv, with seventeen out of twenty-two analysts rating the stock as a buy, and the consensus price target set at $137.89.

EFG Asset Management Americas Corp. cut its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,547 shares of the company's stock after selling 2,812 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in Vertiv were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in Vertiv by 22.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,079 shares of the company's stock worth $1,713,000 after purchasing an additional 2,748 shares in the last quarter. AIA Group Ltd acquired a new position in Vertiv during the 4th quarter worth $242,000. Alliancebernstein L.P. grew its stake in Vertiv by 73.7% during the 4th quarter. Alliancebernstein L.P. now owns 327,293 shares of the company's stock worth $37,184,000 after purchasing an additional 138,871 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in Vertiv by 43.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 12,565 shares of the company's stock worth $1,428,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Vertiv by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 1,314,300 shares of the company's stock worth $149,318,000 after buying an additional 257,323 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Price Performance

NYSE:VRT traded down $3.94 during trading hours on Friday, reaching $141.66. 10,317,134 shares of the company traded hands, compared to its average volume of 8,340,559. The firm's 50-day moving average is $121.71 and its 200-day moving average is $104.78. The stock has a market cap of $53.99 billion, a P/E ratio of 67.78, a P/E/G ratio of 1.36 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.28. 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. Equities research analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a dividend yield of 14.0%. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio is currently 7.18%.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on Vertiv in a report on Tuesday, April 8th. They set a "buy" rating and a $75.00 price target for the company. Oppenheimer lifted their price target on Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Bank of America boosted their target price on Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Wolfe Research reissued an "outperform" rating and issued a $155.00 target price on shares of Vertiv in a report on Thursday, July 10th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.06.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stephen Liang sold 43,683 shares of the 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 completion of the transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

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.