Avior Wealth Management LLC Sells 3,620 Shares of Vertiv Holdings Co (NYSE:VRT)

Avior Wealth Management LLC cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 41.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,195 shares of the company’s stock after selling 3,620 shares during the quarter. Avior Wealth Management LLC’s holdings in Vertiv were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VRT. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD increased its position in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Swedbank AB increased its position in Vertiv by 247.5% during the 2nd quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after purchasing an additional 480,394 shares during the period. Janus Henderson Group PLC lifted its position in shares of Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Vertiv during the 3rd quarter valued at about $43,771,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

VRT opened at $141.75 on Friday. The firm has a market cap of $53.20 billion, a PE ratio of 94.50, a P/E/G ratio of 1.53 and a beta of 1.58. The stock has a 50-day moving average price of $109.85 and a 200-day moving average price of $94.90. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

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 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm 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 dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Analysts Set New Price Targets

A number of research firms recently issued reports on VRT. Evercore ISI raised their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. TD Cowen lifted their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America increased their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Oppenheimer boosted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $138.50.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.01% of the company’s stock.

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.