Vertiv Holdings Co (NYSE:VRT) Shares Sold by New South Capital Management Inc.

by · The Markets Daily

New South Capital Management Inc. lessened its position in shares of Vertiv Holdings Co (NYSE:VRT – Free Report) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,560,186 shares of the company’s stock after selling 38,660 shares during the quarter. Vertiv comprises 10.4% of New South Capital Management Inc.’s investment portfolio, making the stock its biggest holding. New South Capital Management Inc. owned about 0.68% of Vertiv worth $254,713,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in VRT. Rakuten Securities Inc. grew its position in Vertiv by 113.1% during the 3rd quarter. Rakuten Securities Inc. now owns 19,109 shares of the company’s stock worth $1,901,000 after purchasing an additional 10,141 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Vertiv by 13.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 849,809 shares of the company’s stock valued at $84,547,000 after buying an additional 102,042 shares during the last quarter. WealthPlan Investment Management LLC acquired a new stake in shares of Vertiv during the third quarter worth about $645,000. Entropy Technologies LP grew its holdings in shares of Vertiv by 42.4% during the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after buying an additional 9,479 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in Vertiv by 71.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 9,894 shares of the company’s stock valued at $984,000 after acquiring an additional 4,135 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Down 0.6 %

Shares of NYSE VRT opened at $126.03 on Tuesday. 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 $101.51 and a 200 day moving average price of $92.86. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $130.30. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 84.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Equities research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 6.67%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VRT shares. Mizuho lifted their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup raised their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and an average target price of $122.11.

Read Our Latest Research Report on VRT

Vertiv Company Profile

(Free Report)

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.

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