Kennedy Investment Group Reduces Position in Vertiv Holdings Co (NYSE:VRT)

Kennedy Investment Group reduced its holdings in Vertiv Holdings Co (NYSE:VRT) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,200 shares of the company’s stock after selling 500 shares during the period. Kennedy Investment Group’s holdings in Vertiv were worth $1,613,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Silverleafe Capital Partners LLC purchased a new stake in shares of Vertiv in the 4th quarter valued at $4,219,000. Foundations Investment Advisors LLC raised its position in shares of Vertiv by 7.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock valued at $21,076,000 after buying an additional 13,559 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after buying an additional 340,639 shares during the last quarter. Whittier Trust Co. raised its position in shares of Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares during the last quarter. Finally, Janney Capital Management LLC acquired a new stake in shares of Vertiv in the third quarter valued at about $8,403,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Fox Advisors assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. Morgan Stanley assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. TD Cowen upped their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on 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 transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction 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 completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Up 3.4 %

Shares of NYSE:VRT opened at $106.14 on Wednesday. The firm’s 50 day moving average price is $127.86 and its 200 day moving average price is $105.60. The stock has a market cap of $39.84 billion, a price-to-earnings ratio of 70.76, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63. Vertiv Holdings Co has a fifty-two week low of $53.30 and a fifty-two week high of $155.84. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

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.