Shellback Capital LP Sells 379,186 Shares of Vertiv Holdings Co (NYSE:VRT)

Shellback Capital LP trimmed its position in Vertiv Holdings Co (NYSE:VRT) by 86.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after selling 379,186 shares during the quarter. Shellback Capital LP’s holdings in Vertiv were worth $6,817,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VRT. SOA Wealth Advisors LLC. bought a new position in Vertiv in the 4th quarter valued at $26,000. OLD Second National Bank of Aurora purchased a new stake in shares of Vertiv in the fourth quarter worth $30,000. Tradewinds Capital Management LLC boosted its stake in Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock valued at $33,000 after buying an additional 111 shares during the period. FNY Investment Advisers LLC bought a new stake in Vertiv during the fourth quarter valued at $34,000. Finally, Pittenger & Anderson Inc. grew its position in Vertiv by 92.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 313 shares of the company’s stock worth $36,000 after buying an additional 150 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Down 3.5%

Shares of NYSE:VRT opened at $105.69 on Friday. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average price is $82.24 and its 200-day moving average price is $106.10. The stock has a market capitalization of $40.28 billion, a P/E ratio of 82.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.43 EPS. Vertiv’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. Vertiv’s dividend payout ratio is currently 8.72%.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRT. Evercore ISI lowered their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Citigroup lowered their target price on shares of Vertiv from $153.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays cut their price target on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $135.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Roth Capital raised shares of Vertiv to a “strong-buy” rating in a report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.38.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares of the company’s stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

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.