Sycomore Asset Management Sells 35,290 Shares of Vertiv Holdings Co (NYSE:VRT)

Sycomore Asset Management decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 31.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,651 shares of the company’s stock after selling 35,290 shares during the quarter. Sycomore Asset Management’s holdings in Vertiv were worth $8,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Silverleafe Capital Partners LLC bought a new position in shares of Vertiv in the fourth quarter worth about $4,219,000. Foundations Investment Advisors LLC increased its position in Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock worth $21,076,000 after buying an additional 13,559 shares during the period. Whittier Trust Co. lifted its holdings in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares during the last quarter. Janney Capital Management LLC acquired a new position in shares of Vertiv during the third quarter worth approximately $8,403,000. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Vertiv by 112.5% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock valued at $846,000 after acquiring an additional 4,500 shares during the period. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock worth $23,105,682 over the last three months. Insiders own 5.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore ISI cut their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Melius Research reiterated a “hold” rating and set a $125.00 price target on shares of Vertiv in a research note on Tuesday, January 28th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Finally, Barclays assumed coverage on Vertiv in a report on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Vertiv Stock Up 1.6 %

VRT opened at $121.42 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $124.39 and its 200 day simple moving average is $107.21. Vertiv Holdings Co has a 1-year low of $55.00 and a 1-year high of $155.84. The stock has a market cap of $45.57 billion, a PE ratio of 80.95, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is currently 6.67%.

About Vertiv

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.