Intech Investment Management LLC Sells 78,487 Shares of Vertiv Holdings Co (NYSE:VRT)

Intech Investment Management LLC reduced its stake in Vertiv Holdings Co (NYSE:VRT) by 80.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,114 shares of the company’s stock after selling 78,487 shares during the quarter. Intech Investment Management LLC’s holdings in Vertiv were worth $1,561,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VRT. Norges Bank bought a new position in Vertiv in the 4th quarter valued at about $185,339,000. Coatue Management LLC grew its position in shares of Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Vertiv during the 4th quarter worth approximately $43,037,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Vertiv during the 4th quarter worth approximately $33,960,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Vertiv by 46.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,835,806 shares of the company’s stock worth $88,174,000 after purchasing an additional 586,272 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Oppenheimer increased their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Bank of America increased their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho increased their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Evercore ISI increased their target price on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and a consensus target price of $92.11.

Insider Buying and Selling at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the sale, the director now owns 11,835,476 shares in the company, valued at $1,108,747,391.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the sale, the director now owns 11,835,476 shares in the company, valued at $1,108,747,391.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yibin Edward Cui sold 668 shares of the firm’s stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Insiders have sold 4,162,739 shares of company stock worth $400,713,362 over the last quarter. Corporate insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of NYSE VRT traded up $2.75 during trading hours on Friday, hitting $85.31. 7,387,300 shares of the stock were exchanged, compared to its average volume of 8,415,214. Vertiv Holdings Co has a 1-year low of $25.09 and a 1-year high of $109.27. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market cap of $31.94 billion, a PE ratio of 82.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The company’s fifty day simple moving average is $93.53 and its two-hundred day simple moving average is $78.75.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.44 EPS for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. Vertiv’s dividend payout ratio is currently 9.62%.

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.