Parsons Capital Management Inc. RI Has $2.56 Million Position in Vertiv Holdings Co (NYSE:VRT)

Parsons Capital Management Inc. RI cut its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 25.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,383 shares of the company's stock after selling 10,539 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Vertiv were worth $2,563,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company's stock worth $1,757,198,000 after acquiring an additional 30,511,907 shares in the last quarter. Norges Bank bought a new position in shares of Vertiv in the 4th quarter worth about $185,339,000. Vanguard Group Inc. increased its stake in shares of Vertiv by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company's stock worth $1,176,590,000 after acquiring an additional 3,417,710 shares in the last quarter. Coatue Management LLC increased its stake in shares of Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company's stock worth $663,383,000 after acquiring an additional 2,249,353 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company's stock worth $84,031,000 after acquiring an additional 2,059,431 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VRT shares. Oppenheimer increased their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho increased their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday. Citigroup raised their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Bank of America raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.11.

Insider Buying and Selling at Vertiv

In other Vertiv news, 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 transaction, the executive vice president now owns 51,841 shares of the company's stock, valued at $3,641,311.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Scott Cripps sold 56,594 shares of the company'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 Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $21,507,207.04. Following the completion of the transaction, the executive vice president now owns 51,841 shares of the company's stock, 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 Stock Performance

Shares of NYSE VRT traded up $3.14 during trading on Friday, reaching $93.49. 15,253,921 shares of the company traded hands, compared to its average volume of 9,615,165. The firm has a 50 day simple moving average of $76.51 and a 200-day simple moving average of $57.59. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $35.71 billion, a PE ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59. Vertiv Holdings Co has a 52-week low of $13.73 and a 52-week high of $95.32.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. Equities research analysts anticipate that Vertiv Holdings Co will post 2.35 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv's dividend payout ratio is currently 9.62%.

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.