Impax Asset Management Group plc Sells 602,155 Shares of Vertiv Holdings Co (NYSE:VRT)

Impax Asset Management Group plc lowered its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,742,588 shares of the company's stock after selling 602,155 shares during the period. Impax Asset Management Group plc owned about 0.46% of Vertiv worth $83,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VRT. First Horizon Advisors Inc. grew its position in shares of Vertiv by 161.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company's stock valued at $25,000 after acquiring an additional 409 shares during the period. TFC Financial Management Inc. bought a new position in shares of Vertiv in the 4th quarter valued at about $42,000. Clearstead Advisors LLC bought a new position in shares of Vertiv in the 3rd quarter valued at about $38,000. Huntington National Bank grew its position in shares of Vertiv by 299.1% in the 3rd quarter. Huntington National Bank now owns 1,329 shares of the company's stock valued at $49,000 after acquiring an additional 996 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Vertiv in the 4th quarter valued at about $70,000. Institutional investors own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRT. Bank of America lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, March 18th. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $53.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Citigroup raised their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer started coverage on shares of Vertiv in a research note on Friday. They set an "outperform" rating and a $96.00 target price for the company. Finally, Mizuho raised their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.22.

Vertiv Stock Performance

Vertiv stock traded down $2.36 during midday trading on Tuesday, hitting $81.79. The company's stock had a trading volume of 10,234,545 shares, compared to its average volume of 7,501,366. Vertiv Holdings Co has a 1-year low of $11.95 and a 1-year high of $88.69. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company has a 50-day moving average price of $70.39 and a two-hundred day moving average price of $53.28. The company has a market cap of $31.24 billion, a price-to-earnings ratio of 69.00, a PEG ratio of 1.36 and a beta of 1.59.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The business's revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.35 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date was Monday, March 18th. Vertiv's dividend payout ratio is currently 8.47%.

Insider Buying and Selling at Vertiv

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% of the company's stock.

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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