Envestnet Asset Management Inc. Sells 50,317 Shares of Vertiv Holdings Co. $VRT

Envestnet Asset Management Inc. cut its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 11.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 395,208 shares of the company’s stock after selling 50,317 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Vertiv worth $59,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VRT. Norges Bank purchased a new stake in Vertiv in the second quarter worth about $538,132,000. Winslow Capital Management LLC bought a new position in Vertiv during the 2nd quarter valued at approximately $459,284,000. Nordea Investment Management AB raised its stake in Vertiv by 100.1% during the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock valued at $415,132,000 after buying an additional 1,624,456 shares during the last quarter. SG Americas Securities LLC raised its stake in Vertiv by 102.7% during the second quarter. SG Americas Securities LLC now owns 26,837 shares of the company’s stock valued at $3,446,000 after buying an additional 1,026,837 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Vertiv by 20.9% in the second quarter. Invesco Ltd. now owns 5,931,488 shares of the company’s stock worth $761,662,000 after acquiring an additional 1,024,634 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VRT. Deutsche Bank Aktiengesellschaft set a $216.00 price target on Vertiv and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Oppenheimer upped their target price on shares of Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Mizuho raised their price target on shares of Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings lowered shares of Vertiv from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Vertiv in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.89.

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president owned 4,050 shares of the company’s stock, valued at approximately $690,444. The trade was a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of VRT opened at $202.56 on Tuesday. The firm has a market capitalization of $77.45 billion, a P/E ratio of 76.44, a PEG ratio of 1.20 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.43. The business has a fifty day moving average of $175.10 and a 200 day moving average of $161.93. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $208.43.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.0625 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s dividend payout ratio is currently 9.43%.

Vertiv Profile

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.