Cannell & Co. Sells 742,225 Shares of Vertiv Holdings Co (NYSE:VRT)

Cannell & Co. reduced its holdings in Vertiv Holdings Co (NYSE:VRT) by 33.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,451,650 shares of the company’s stock after selling 742,225 shares during the period. Vertiv makes up about 2.2% of Cannell & Co.’s investment portfolio, making the stock its 9th biggest position. Cannell & Co. owned approximately 0.38% of Vertiv worth $69,723,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Vertiv in the fourth quarter valued at approximately $1,040,000. Xponance Inc. raised its holdings in Vertiv by 2.9% in the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after purchasing an additional 426 shares during the period. WT Asset Management Ltd acquired a new stake in Vertiv in the fourth quarter worth $24,486,000. CenterBook Partners LP raised its holdings in Vertiv by 82.0% in the third quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock worth $6,508,000 after purchasing an additional 78,793 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in Vertiv by 791.6% in the third quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock worth $3,445,000 after purchasing an additional 82,239 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Down 5.7 %

Vertiv stock traded down $5.32 during mid-day trading on Wednesday, reaching $87.68. The company’s stock had a trading volume of 4,764,040 shares, compared to its average volume of 8,209,275. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 85.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.59. Vertiv Holdings Co has a 12 month low of $14.27 and a 12 month high of $95.70. The business’s 50 day simple moving average is $77.77 and its 200 day simple moving average is $58.46. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.35 and a current ratio of 1.34.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup increased their target price on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Bank of America raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Mizuho raised their price objective on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Oppenheimer raised their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.11.

Insider Activity

In other news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the sale, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Insiders sold a total of 3,362,790 shares of company stock valued at $306,451,347 in the last quarter. Company insiders own 5.62% of the company’s stock.

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.