Baker Avenue Asset Management LP Sells 4,253 Shares of Vertiv Holdings Co (NYSE:VRT)

Baker Avenue Asset Management LP lessened its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,879 shares of the company's stock after selling 4,253 shares during the quarter. Baker Avenue Asset Management LP's holdings in Vertiv were worth $6,576,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VRT. SOA Wealth Advisors LLC. acquired a new position in shares of Vertiv in the 4th quarter valued at approximately $26,000. OLD Second National Bank of Aurora bought a new stake in shares of Vertiv in the 4th quarter worth about $30,000. Tradewinds Capital Management LLC increased its holdings in Vertiv by 61.3% in the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock valued at $33,000 after buying an additional 111 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Vertiv during the 4th quarter worth approximately $34,000. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Vertiv by 92.0% in the 4th quarter. Pittenger & Anderson Inc. now owns 313 shares of the company's stock valued at $36,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VRT shares. Morgan Stanley decreased their price target on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Evercore ISI lowered their price objective on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, January 17th. KGI Securities assumed coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a "hold" rating on the stock. Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Finally, Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.38.

Vertiv Stock Up 2.2 %

Shares of NYSE VRT traded up $2.09 during mid-day trading on Wednesday, reaching $95.57. 10,027,725 shares of the company traded hands, compared to its average volume of 8,995,857. The company's fifty day moving average is $80.09 and its two-hundred day moving average is $106.57. Vertiv Holdings Co has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a market cap of $36.39 billion, a PE ratio of 74.66, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 6.19% and a return on equity of 61.41%. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. On average, analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.16%. Vertiv's payout ratio is presently 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.