Cherry Creek Investment Advisors Inc. Sells 180 Shares of Vertiv Holdings Co (NYSE:VRT)

Cherry Creek Investment Advisors Inc. reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,806 shares of the company’s stock after selling 180 shares during the quarter. Vertiv makes up 1.5% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 18th largest position. Cherry Creek Investment Advisors Inc.’s holdings in Vertiv were worth $3,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. State Street Corp grew its stake in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after acquiring an additional 308,704 shares during the period. Geode Capital Management LLC raised its position in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after purchasing an additional 408,054 shares during the period. Jennison Associates LLC increased its position in shares of Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP raised its position in Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after acquiring an additional 40,696 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 29.8 %

Shares of NYSE VRT opened at $102.72 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a fifty day moving average price of $128.27 and a 200 day moving average price of $105.53. The company has a market cap of $38.55 billion, a P/E ratio of 68.48, a P/E/G ratio of 1.16 and a beta of 1.63. Vertiv Holdings Co has a 12-month low of $53.30 and a 12-month high of $155.84.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analysts Set New Price Targets

A number of equities research analysts have commented on VRT shares. TD Cowen increased their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI lowered their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Barclays initiated coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Fox Advisors assumed coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.75.

Insider Activity at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,527 shares of company stock worth $23,105,682 in the last 90 days. 5.01% of the stock is currently owned by company insiders.

About Vertiv

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.