Alight Capital Management LP Cuts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Alight Capital Management LP lessened its position in Vertiv Holdings Co (NYSE:VRT - Free Report) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the company's stock after selling 15,000 shares during the quarter. Alight Capital Management LP's holdings in Vertiv were worth $2,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the fourth quarter worth about $597,379,000. Norges Bank bought a new position in Vertiv in the 4th quarter worth about $391,777,000. Jennison Associates LLC increased its position in shares of Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after acquiring an additional 1,928,275 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Institutional investors own 89.92% of the company's stock.

Vertiv Stock Performance

Shares of NYSE:VRT traded up $2.46 during midday trading on Friday, reaching $95.01. The company's stock had a trading volume of 9,123,436 shares, compared to its average volume of 8,998,585. The firm has a market capitalization of $36.18 billion, a PE ratio of 74.23, a P/E/G ratio of 1.07 and a beta of 1.71. The stock has a fifty day moving average of $80.14 and a 200 day moving average of $106.84. Vertiv Holdings Co has a twelve month low of $53.60 and a twelve month high of $155.84. 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 (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, equities analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Analysts Set New Price Targets

Several research firms have commented on VRT. The Goldman Sachs Group reduced their price objective on Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Fox Advisors began coverage on Vertiv in a report on Monday, January 6th. They issued an "equal weight" rating for the company. Citigroup dropped their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Finally, Morgan Stanley cut their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.38.

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.