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

Principal Street Partners LLC trimmed its position in Vertiv Holdings Co (NYSE:VRT - Free Report) by 48.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Jennison Associates LLC lifted its position in Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock worth $880,971,000 after purchasing an additional 3,153,932 shares during the period. Geode Capital Management LLC grew its stake in shares of Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock worth $688,260,000 after purchasing an additional 99,181 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 4th quarter worth approximately $597,379,000. Finally, Wellington Management Group LLP grew its stake in shares of Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after purchasing an additional 990,361 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Down 0.1%

NYSE VRT traded down $0.12 on Friday, reaching $104.08. The stock had a trading volume of 3,965,121 shares, compared to its average volume of 8,975,648. The business has a 50 day moving average price of $84.59 and a 200 day moving average price of $105.89. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. 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 $39.67 billion, a price-to-earnings ratio of 81.31, a P/E/G ratio of 1.07 and a beta of 1.70.

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

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. Vertiv's dividend payout ratio is currently 8.72%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VRT. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley reduced their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. Finally, Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and an average price target of $122.06.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of Vertiv 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 now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.