Allspring Global Investments Holdings LLC Has $103.27 Million Position in Vertiv Holdings Co (NYSE:VRT)

Allspring Global Investments Holdings LLC cut its stake in Vertiv Holdings Co (NYSE:VRT) by 36.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,048 shares of the company’s stock after selling 503,144 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vertiv were worth $103,271,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. bought a new position in shares of Vertiv in the fourth quarter worth $26,000. Krane Funds Advisors LLC acquired a new stake in Vertiv during the third quarter worth about $29,000. Global Trust Asset Management LLC bought a new position in Vertiv in the 3rd quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. 89.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anand Sanghi sold 30,914 shares of the business’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 directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by company insiders.

Vertiv Trading Down 9.7 %

Shares of NYSE VRT opened at $111.34 on Thursday. The stock has a market cap of $41.79 billion, a P/E ratio of 74.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The firm has a 50 day moving average price of $124.27 and a two-hundred day moving average price of $108.09. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a 52-week low of $55.00 and a 52-week high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.7 EPS for the current year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued 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 yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Melius downgraded shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, January 28th. TD Cowen boosted their price target on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI reduced their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Vertiv Company 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.