Zweig DiMenna Associates LLC Sells 207,975 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Zweig DiMenna Associates LLC sold 207,975 shares of Vertiv Holdings Co., reducing its position by 68.2% and leaving it with 97,100 shares valued at approximately $7 million.
• Several institutional investors, including Massachusetts Financial Services and Norges Bank, have recently acquired significant new positions in Vertiv, reflecting growing interest in the company.
• Vertiv's stock showed an increase of 0.5% recently, and the company reported a quarter with a revenue of $2.04 billion, surpassing analyst expectations.

Zweig DiMenna Associates LLC trimmed its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 68.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,100 shares of the company's stock after selling 207,975 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Vertiv were worth $7,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of VRT. Colonial Trust Co SC increased its position in shares of Vertiv by 211.9% during the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the period. Ameriflex Group Inc. purchased a new position in Vertiv during the fourth quarter valued at approximately $37,000. GW&K Investment Management LLC purchased a new position in shares of Vertiv during the 1st quarter valued at $26,000. BNP Paribas bought a new stake in Vertiv in the fourth quarter worth approximately $45,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Vertiv by 4,120.0% during the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VRT shares. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Bank of America upped their price target on Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reissued an "outperform" rating and set a $155.00 price objective on shares of Vertiv in a research report on Thursday, July 10th. Melius upgraded Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target for the company in a research note on Tuesday, July 8th. Finally, Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $136.76.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karsten Winther sold 5,500 shares of Vertiv 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 sale, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by company insiders.

Vertiv Trading Up 5.1%

VRT stock traded up $6.65 during mid-day trading on Friday, reaching $137.52. The company's stock had a trading volume of 8,225,774 shares, compared to its average volume of 6,826,359. The business's 50 day moving average price is $118.59 and its 200 day moving average price is $104.33. The company has a market cap of $52.41 billion, a price-to-earnings ratio of 79.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.75. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company posted $0.43 EPS. The company's revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. This represents a yield of 0.14%. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's dividend payout ratio is 8.72%.

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.