OVERSEA CHINESE BANKING Corp Ltd Sells 103,739 Shares of Vertiv Holdings Co (NYSE:VRT)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 58.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 73,077 shares of the company’s stock after selling 103,739 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Vertiv were worth $7,273,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Vertiv during the third quarter valued at $29,000. Anchor Investment Management LLC purchased a new position in Vertiv in the second quarter valued at about $26,000. Global Trust Asset Management LLC purchased a new position in Vertiv in the third quarter valued at about $30,000. Mather Group LLC. grew its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Vertiv in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

NYSE:VRT opened at $126.94 on Tuesday. The company has a fifty day simple moving average of $101.51 and a two-hundred day simple moving average of $92.86. The company has a market cap of $47.65 billion, a price-to-earnings ratio of 84.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $130.30.

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

Vertiv Dividend Announcement

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

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on VRT. Citigroup raised their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Oppenheimer raised their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen raised their price objective on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus price target of $122.11.

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.