Russell Investments Group Ltd. Reduces Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Russell Investments Group Ltd. lowered its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 873,682 shares of the company’s stock after selling 185,263 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Vertiv worth $42,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Simon Quick Advisors LLC grew its position in Vertiv by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 20,065 shares of the company’s stock worth $964,000 after purchasing an additional 205 shares during the last quarter. Hanseatic Management Services Inc. increased its position in Vertiv by 0.8% in the 3rd quarter. Hanseatic Management Services Inc. now owns 29,541 shares of the company’s stock valued at $1,099,000 after acquiring an additional 246 shares during the period. First Horizon Advisors Inc. raised its stake in Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after acquiring an additional 409 shares during the last quarter. Xponance Inc. lifted its position in Vertiv by 2.9% during the 4th quarter. Xponance Inc. now owns 14,984 shares of the company’s stock worth $720,000 after acquiring an additional 426 shares during the period. Finally, GAMMA Investing LLC purchased a new position in shares of Vertiv in the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Mizuho increased their price objective on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday. Evercore ISI boosted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Bank of America raised their price objective on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Citigroup boosted their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and a consensus target price of $81.11.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by company insiders.

Vertiv Stock Performance

NYSE VRT opened at $94.80 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. Vertiv Holdings Co has a fifty-two week low of $14.27 and a fifty-two week high of $95.32. The business has a fifty day moving average of $77.15 and a 200-day moving average of $58.08. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 91.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. As a group, analysts predict that Vertiv Holdings Co will post 2.38 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 9.62%.

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.