Westside Investment Management Inc. Trims Stake in Vertiv Holdings Co (NYSE:VRT)

Westside Investment Management Inc. lowered its position in Vertiv Holdings Co (NYSE:VRT) by 9.7% in the 3rd quarter, Holdings Channel reports. The fund owned 2,200 shares of the company’s stock after selling 235 shares during the quarter. Westside Investment Management Inc.’s holdings in Vertiv were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRT. ORG Partners LLC raised its holdings in Vertiv by 25.1% in the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after purchasing an additional 92 shares in the last quarter. Allworth Financial LP grew its position in shares of Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after buying an additional 100 shares during the period. NBC Securities Inc. lifted its position in Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after acquiring an additional 112 shares during the period. Nvwm LLC boosted its stake in Vertiv by 1.3% during the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock worth $998,000 after acquiring an additional 124 shares in the last quarter. Finally, Callan Family Office LLC grew its holdings in Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price for the company. Barclays started coverage on Vertiv in a report on Thursday. They issued an “equal weight” rating and a $142.00 target price on the stock. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Citigroup upped their price target on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Mizuho raised their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.09.

Insider Transactions at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 in the last quarter. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Down 0.6 %

VRT opened at $125.07 on Friday. Vertiv Holdings Co has a twelve month low of $44.31 and a twelve month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average price of $120.03 and a 200-day moving average price of $98.07. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 83.38, a PEG ratio of 1.29 and a beta of 1.61.

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

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is presently 6.67%.

Vertiv 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.