Vertiv Holdings Co (NYSE:VRT) Insider Sells $3,593,470.76 in Stock

Vertiv Holdings Co (NYSE:VRT) insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vertiv Stock Down 4.5 %

VRT stock opened at $71.80 on Friday. The firm’s 50-day moving average is $80.72 and its two-hundred day moving average is $83.87. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 69.04, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Institutional Investors Weigh In On Vertiv

Several hedge funds and other institutional investors have recently bought and sold shares of VRT. Sanctuary Advisors LLC bought a new stake in shares of Vertiv during the 2nd quarter worth $1,632,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Vertiv in the 2nd quarter valued at $346,000. Sycomore Asset Management purchased a new position in Vertiv in the 2nd quarter worth about $10,225,000. Kestra Investment Management LLC acquired a new stake in Vertiv during the 2nd quarter worth about $1,649,000. Finally, Clearbridge Investments LLC lifted its stake in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after buying an additional 340,639 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Bank of America increased their target price on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen lifted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $96.22.

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.