Principal Street Partners LLC Sells 7,327 Shares of Vertiv Holdings Co (NYSE:VRT)

Principal Street Partners LLC reduced its position in Vertiv Holdings Co (NYSE:VRT - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,780 shares of the company's stock after selling 7,327 shares during the period. Principal Street Partners LLC's holdings in Vertiv were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of VRT. SOA Wealth Advisors LLC. purchased a new position in Vertiv during the fourth quarter valued at $26,000. OLD Second National Bank of Aurora purchased a new position in Vertiv during the fourth quarter valued at $30,000. Tradewinds Capital Management LLC lifted its position in Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock valued at $33,000 after purchasing an additional 111 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Vertiv by 92.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 313 shares of the company's stock valued at $36,000 after purchasing an additional 150 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in 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 acquiring an additional 214 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of recent analyst reports. Citigroup decreased their price target on Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cowen reissued a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Roth Capital raised Vertiv to a "strong-buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. raised their price target on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Morgan Stanley decreased their price target on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.06.

Insider Activity

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred 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 now owns 18,847 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 2.63% of the company's stock.

Vertiv Trading Up 0.5%

NYSE VRT traded up $0.55 during trading hours on Thursday, hitting $104.16. 3,785,621 shares of the company were exchanged, compared to its average volume of 9,003,099. The stock has a 50-day moving average price of $83.90 and a 200 day moving average price of $105.96. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a 52 week low of $53.60 and a 52 week high of $155.84. The stock has a market cap of $39.70 billion, a PE ratio of 81.38, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. Analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.14%. Vertiv's payout ratio is currently 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.