Nuveen Asset Management LLC Trims Stake in Vertiv Holdings Co (NYSE:VRT)

Nuveen Asset Management LLC reduced its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,063,807 shares of the company's stock after selling 54,271 shares during the quarter. Nuveen Asset Management LLC owned about 0.28% of Vertiv worth $120,859,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. bought a new stake in shares of Vertiv during the 4th quarter valued at about $26,000. OLD Second National Bank of Aurora bought a new stake in shares of Vertiv during the fourth quarter valued at approximately $30,000. Tradewinds Capital Management LLC grew its stake in Vertiv by 61.3% in the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock worth $33,000 after purchasing an additional 111 shares during the period. Pittenger & Anderson Inc. raised its holdings in Vertiv by 92.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 313 shares of the company's stock worth $36,000 after purchasing an additional 150 shares in the last quarter. Finally, Colonial Trust Co SC lifted its position 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 buying an additional 214 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider now directly owns 18,847 shares in the company, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRT. Cowen reiterated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday. Roth Capital raised Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Royal Bank of Canada began coverage on Vertiv in a research report on Friday, March 7th. They set an "outperform" rating and a $121.00 price objective for the company. Finally, Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Vertiv currently has a consensus rating of "Moderate Buy" and an average target price of $122.06.

Vertiv Stock Performance

VRT traded up $0.26 during midday trading on Monday, hitting $106.30. 4,584,045 shares of the company traded hands, compared to its average volume of 9,016,416. The company's 50-day moving average is $82.70 and its 200 day moving average is $105.98. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $40.51 billion, a PE ratio of 83.05, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a 52 week low of $53.60 and a 52 week 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, March 18th. Vertiv's payout ratio is currently 8.72%.

Vertiv Company 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.