Vertiv Holdings Co (NYSE:VRT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,922 shares of the company's stock after selling 3,384 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Vertiv were worth $3,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Vertiv by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock worth $128,000 after purchasing an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after acquiring an additional 85 shares during the last quarter. Accurate Wealth Management LLC lifted its position in shares of Vertiv by 4.1% in the fourth 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 in the last quarter. Horizon Investment Services LLC boosted its stake in shares of Vertiv by 4.1% during the fourth 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, Tradewinds Capital Management LLC increased its position in Vertiv by 61.3% during the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock worth $33,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Vertiv Stock Down 1.6 %

Shares of NYSE VRT traded down $1.57 on Friday, hitting $94.17. The company had a trading volume of 6,364,741 shares, compared to its average volume of 9,011,834. The firm has a market capitalization of $35.89 billion, a P/E ratio of 73.57, a PEG ratio of 1.07 and a beta of 1.70. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84. The business has a 50 day moving average of $80.47 and a two-hundred day moving average of $106.26.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities research analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.16%. Vertiv's payout ratio is 8.72%.

Insider Buying and Selling

In other news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Citigroup decreased their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada assumed coverage on Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Vertiv from $132.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Roth Mkm started coverage on Vertiv in a research report on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertiv currently has a consensus rating of "Moderate Buy" and an average price target of $120.38.

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.