ShoreHaven Wealth Partners LLC reduced its stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 50.8% in the 4th quarter, HoldingsChannel reports. The firm owned 10,858 shares of the company’s stock after selling 11,200 shares during the quarter. ShoreHaven Wealth Partners LLC’s holdings in Vertiv were worth $1,759,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Vertiv in the 4th quarter valued at $29,000. Park Place Capital Corp raised its holdings in Vertiv by 624.0% in the 4th quarter. Park Place Capital Corp now owns 181 shares of the company’s stock valued at $29,000 after acquiring an additional 156 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Vertiv by 98.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 187 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Vertiv in the 3rd quarter valued at $30,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new position in Vertiv in the 3rd quarter valued at $31,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Vertiv Trading Down 0.7%
NYSE VRT opened at $332.11 on Thursday. The company’s 50 day moving average price is $310.09 and its 200 day moving average price is $238.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.15 and a current ratio of 1.49. Vertiv Holdings Co. has a one year low of $107.38 and a one year high of $379.93. The firm has a market capitalization of $127.57 billion, a price-to-earnings ratio of 83.44, a PEG ratio of 1.45 and a beta of 2.03.
Vertiv Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Vertiv’s dividend payout ratio is 6.28%.
Insiders Place Their Bets
In related news, Director Edward L. Monser sold 77,294 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.49, for a total transaction of $18,974,904.06. Following the completion of the sale, the director directly owned 16,500 shares of the company’s stock, valued at approximately $4,050,585. This represents a 82.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on VRT shares. Wall Street Zen upgraded Vertiv from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $281.00 price target on shares of Vertiv in a report on Thursday, February 12th. Mizuho set a $380.00 price objective on shares of Vertiv in a research note on Thursday, May 21st. Morgan Stanley boosted their price objective on shares of Vertiv from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, HSBC assumed coverage on shares of Vertiv in a research note on Wednesday, March 25th. They set a “buy” rating and a $325.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $322.32.
Get Our Latest Stock Analysis on Vertiv
About Vertiv
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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