Woodline Partners LP Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

Woodline Partners LP cut its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 80.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,552 shares of the company's stock after selling 327,191 shares during the quarter. Woodline Partners LP's holdings in Vertiv were worth $9,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its position in shares of Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company's stock worth $21,076,000 after purchasing an additional 13,559 shares during the period. Empowered Funds LLC raised its stake in Vertiv by 67.0% in the fourth quarter. Empowered Funds LLC now owns 9,180 shares of the company's stock worth $1,043,000 after buying an additional 3,682 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Vertiv during the fourth quarter worth $217,000. Ibex Wealth Advisors purchased a new stake in Vertiv during the fourth quarter worth $7,583,000. Finally, PFG Investments LLC bought a new stake in Vertiv during the 4th quarter valued at $617,000. 89.92% of the stock is currently owned by institutional investors.

Vertiv Price Performance

Shares of NYSE:VRT opened at $104.16 on Friday. Vertiv Holdings Co has a twelve month low of $53.60 and a twelve month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The company 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. The company's 50 day moving average is $84.20 and its 200 day moving average is $105.95.

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

Vertiv Dividend Announcement

The company also recently announced 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. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, March 18th. Vertiv's dividend payout ratio (DPR) is 8.72%.

Insider Activity

In related news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRT. Roth Mkm initiated coverage on Vertiv in a research report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price target for the company. Melius Research reiterated a "hold" rating and issued a $125.00 target price on shares of Vertiv in a report on Tuesday, January 28th. Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a report on Monday, April 7th. The Goldman Sachs Group cut their price objective on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, KGI Securities started coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a "hold" rating for the company. Five equities 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.06.

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.

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