Harvest Fund Management Co. Ltd Decreases Position in Vertiv Holdings Co (NYSE:VRT)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 42.4% in the third quarter, HoldingsChannel.com reports. The fund owned 35,276 shares of the company’s stock after selling 26,007 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Vertiv were worth $3,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Hawaii lifted its position in shares of Vertiv by 10.3% in the third quarter. Bank of Hawaii now owns 31,355 shares of the company’s stock valued at $3,120,000 after acquiring an additional 2,933 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Vertiv by 85.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 87,456 shares of the company’s stock valued at $8,701,000 after purchasing an additional 40,356 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Vertiv by 1.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after purchasing an additional 40,696 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Vertiv during the 3rd quarter worth about $405,000. Finally, Larson Financial Group LLC grew its holdings in shares of Vertiv by 232.9% during the third quarter. Larson Financial Group LLC now owns 839 shares of the company’s stock worth $83,000 after buying an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the 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 $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $10,074,936 in the last quarter. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Performance

Vertiv stock opened at $140.15 on Monday. The company has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock’s 50-day moving average is $110.94 and its 200-day moving average is $95.18.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 19.0% on a year-over-year basis. Equities analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analyst Ratings Changes

Several brokerages recently issued reports on VRT. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. TD Cowen raised their price objective on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Bank of America raised their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI lifted their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $138.50.

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.