Vertiv Holdings Co (NYSE:VRT) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lowered its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 691,333 shares of the company’s stock after selling 56,438 shares during the period. Vertiv makes up approximately 1.6% of Cannell & Spears LLC’s holdings, making the stock its 12th largest holding. Cannell & Spears LLC’s holdings in Vertiv were worth $78,542,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Vertiv during the 4th quarter valued at approximately $391,777,000. Jennison Associates LLC raised its position in Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the period. Wellington Management Group LLP lifted its holdings in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Vertiv by 136.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock valued at $379,101,000 after purchasing an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target on the stock. Citigroup raised their target price on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays dropped their price target on Vertiv from $111.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Melius downgraded Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Evercore ISI lowered their target price on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and a consensus price target of $135.33.

Vertiv Stock Down 2.6 %

Shares of NYSE VRT opened at $74.32 on Monday. The company has a market capitalization of $28.30 billion, a P/E ratio of 58.06, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The company has a 50 day simple moving average of $102.74 and a 200-day simple moving average of $111.69. Vertiv Holdings Co has a 1 year low of $62.40 and a 1 year high of $155.84.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the previous year, the business earned $0.56 earnings per share. On average, equities research analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. Vertiv’s payout ratio is currently 11.72%.

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.