Polar Capital Holdings Plc Sells 63,000 Shares of Vertiv Holdings Co (NYSE:VRT)

Polar Capital Holdings Plc cut its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 43.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,800 shares of the company's stock after selling 63,000 shares during the quarter. Polar Capital Holdings Plc's holdings in Vertiv were worth $9,407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRT. Fifth Third Bancorp grew its position in Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock valued at $128,000 after purchasing an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Vertiv by 2.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after acquiring an additional 85 shares during the last quarter. Accurate Wealth Management LLC boosted its holdings in shares of Vertiv by 4.1% during the 4th quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company's stock valued at $254,000 after acquiring an additional 87 shares during the last quarter. Horizon Investment Services LLC boosted its holdings in shares of Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock valued at $274,000 after acquiring an additional 95 shares during the last quarter. Finally, Utah Retirement Systems boosted its holdings in shares of Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after acquiring an additional 100 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRT. Royal Bank of Canada began coverage on shares of Vertiv in a report on Friday, March 7th. They set an "outperform" rating and a $121.00 price target on the stock. KGI Securities began coverage on shares of Vertiv in a report on Thursday, April 24th. They set a "hold" rating on the stock. Roth Mkm began coverage on shares of Vertiv in a report on Tuesday, April 8th. They set a "buy" rating and a $75.00 price target on the stock. Barclays dropped their price target on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, Evercore ISI dropped their price target on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $122.06.

Vertiv Stock Performance

Shares of VRT traded up $0.63 on Friday, reaching $106.01. The company's stock had a trading volume of 5,133,281 shares, compared to its average volume of 9,034,180. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The stock has a market capitalization of $40.40 billion, a P/E ratio of 82.82, a PEG ratio of 1.07 and a beta of 1.70. The stock's 50 day simple moving average is $82.70 and its two-hundred day simple moving average is $106.05. 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 released its earnings results 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 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 analysts' expectations of $1.94 billion. During the same quarter last year, the business earned $0.43 EPS. The firm's revenue was up 24.2% compared to the same quarter last year. Research analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's payout ratio is 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.