Westfield Capital Management Co. LP cut its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 36.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,377,572 shares of the company's stock after selling 1,342,438 shares during the period. Vertiv makes up approximately 0.8% of Westfield Capital Management Co. LP's holdings, making the stock its 23rd biggest position. Westfield Capital Management Co. LP owned 0.62% of Vertiv worth $171,661,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC bought a new stake in Vertiv in the 1st quarter valued at $26,000. North Star Investment Management Corp. raised its stake in shares of Vertiv by 4,120.0% in 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 in the last quarter. Sachetta LLC raised its stake in shares of Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after buying an additional 317 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Vertiv by 211.9% in the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 214 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of Vertiv in the 4th quarter valued at $37,000. 89.92% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on VRT. William Blair began coverage on shares of Vertiv in a research note on Monday, July 28th. They issued an "outperform" rating for the company. Citigroup increased their price objective on shares of Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Bank of America increased their price objective on shares of Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Mizuho increased their price objective on shares of Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Melius Research upgraded shares of Vertiv from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $134.00 to $165.00 in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.06.
View Our Latest Stock Analysis on Vertiv
Vertiv Stock Down 2.7%
Shares of NYSE:VRT opened at $141.66 on Monday. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The company's 50-day moving average price is $122.46 and its two-hundred day moving average price is $104.48. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The firm has a market cap of $53.99 billion, a P/E ratio of 67.78, a P/E/G ratio of 1.25 and a beta of 1.77.
Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm 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 firm earned $0.67 EPS. The company's revenue was up 35.1% on a year-over-year basis. As a group, research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal 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 paid a $0.0375 dividend. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. This represents a dividend yield of 14.0%. Vertiv's payout ratio is 7.18%.
Insider Activity
In other news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.
About Vertiv
(
Free Report)
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.
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