Vertiv Holdings Co. $VRT Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC lessened its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 43.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,301 shares of the company’s stock after selling 34,536 shares during the period. Stonegate Investment Group LLC’s holdings in Vertiv were worth $6,683,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VRT. Abundance Wealth Counselors lifted its holdings in shares of Vertiv by 313.7% in the 3rd quarter. Abundance Wealth Counselors now owns 10,165 shares of the company’s stock worth $1,533,000 after purchasing an additional 7,708 shares during the last quarter. Union Bancaire Privee UBP SA increased its position in Vertiv by 35.5% in the third quarter. Union Bancaire Privee UBP SA now owns 272,608 shares of the company’s stock worth $41,126,000 after buying an additional 71,361 shares during the period. KLP Kapitalforvaltning AS lifted its stake in Vertiv by 5.5% in the third quarter. KLP Kapitalforvaltning AS now owns 143,100 shares of the company’s stock valued at $21,588,000 after buying an additional 7,400 shares during the last quarter. Nordea Investment Management AB lifted its stake in Vertiv by 100.1% in the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock valued at $415,132,000 after buying an additional 1,624,456 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Vertiv by 134.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 291,036 shares of the company’s stock valued at $37,372,000 after acquiring an additional 167,152 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRT. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vertiv in a report on Monday, December 22nd. Morgan Stanley upped their target price on shares of Vertiv from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Barclays upgraded shares of Vertiv from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $181.00 to $200.00 in a research note on Friday, January 2nd. Oppenheimer boosted their price objective on Vertiv from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Citigroup increased their price objective on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Trading Down 0.9%

Shares of NYSE:VRT opened at $180.89 on Tuesday. The company has a 50 day moving average of $171.03 and a 200-day moving average of $157.50. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.83. The firm has a market cap of $69.16 billion, a P/E ratio of 68.26, a P/E/G ratio of 1.12 and a beta of 2.06. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $202.45.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, November 25th. Vertiv’s payout ratio is currently 9.43%.

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the transaction, the executive vice president directly owned 4,050 shares of the company’s stock, valued at approximately $690,444. This trade represents a 57.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Vertiv Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.