Prospera Financial Services Inc Sells 1,466 Shares of Vertiv Holdings Co (NYSE:VRT)

Prospera Financial Services Inc trimmed its position in shares of Vertiv Holdings Co (NYSE:VRT) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,446 shares of the company’s stock after selling 1,466 shares during the quarter. Prospera Financial Services Inc’s holdings in Vertiv were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of VRT. ORG Partners LLC grew its position in Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after acquiring an additional 92 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares in the last quarter. Nvwm LLC raised its holdings in shares of Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after buying an additional 124 shares during the last quarter. Finally, Callan Family Office LLC lifted its position in Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Down 5.8 %

NYSE:VRT opened at $132.03 on Tuesday. 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 12-month low of $41.01 and a 12-month high of $145.67. The stock’s fifty day simple moving average is $111.84 and its 200-day simple moving average is $95.42. The firm has a market capitalization of $49.56 billion, a P/E ratio of 88.02, a P/E/G ratio of 1.44 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. Equities research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is presently 6.67%.

Analyst Upgrades and Downgrades

VRT has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Mizuho raised their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $138.50.

Insiders Place Their Bets

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The stock was 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 in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,185 shares of company stock worth $10,074,936. Company insiders own 5.01% of the company’s stock.

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.