Cherry Creek Investment Advisors Inc. Lowers Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Cherry Creek Investment Advisors Inc. cut its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,510 shares of the company's stock after selling 24,034 shares during the quarter. Vertiv comprises about 4.6% of Cherry Creek Investment Advisors Inc.'s investment portfolio, making the stock its 6th largest position. Cherry Creek Investment Advisors Inc.'s holdings in Vertiv were worth $7,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in 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 purchasing an additional 409 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Vertiv in the 4th quarter worth about $27,000. Brown Brothers Harriman & Co. increased its stake in Vertiv by 648.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,500 shares of the company's stock valued at $35,000 after buying an additional 2,166 shares during the period. Clearstead Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter valued at about $38,000. Finally, TFC Financial Management Inc. acquired a new position in shares of Vertiv in the fourth quarter worth about $42,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Scott Cripps sold 56,594 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on VRT. Evercore ISI raised their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on shares of Vertiv from $53.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Oppenheimer began coverage on shares of Vertiv in a research report on Friday, April 5th. They issued an "outperform" rating and a $96.00 price target on the stock. Bank of America raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Finally, Mizuho raised their price objective 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 research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.22.

Vertiv Stock Performance

Shares of VRT traded up $2.95 during mid-day trading on Wednesday, hitting $84.75. The stock had a trading volume of 8,798,532 shares, compared to its average volume of 7,520,311. The firm has a market cap of $32.37 billion, a P/E ratio of 69.31, a PEG ratio of 1.35 and a beta of 1.59. The business has a fifty day moving average price of $70.90 and a 200-day moving average price of $53.60. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. Vertiv Holdings Co has a 52 week low of $11.95 and a 52 week high of $88.69.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $0.28 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Vertiv Holdings Co will post 2.34 EPS for the current year.

Vertiv Announces Dividend

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

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.