Westpac Banking Corp reduced its stake in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,573 shares of the company’s stock after selling 7,759 shares during the quarter. Westpac Banking Corp’s holdings in Vertiv were worth $5,439,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Waterfront Wealth Inc. raised its stake in shares of Vertiv by 2.5% during the fourth quarter. Waterfront Wealth Inc. now owns 2,253 shares of the company’s stock valued at $365,000 after purchasing an additional 56 shares in the last quarter. Balance Wealth LLC raised its position in Vertiv by 2.8% in the fourth quarter. Balance Wealth LLC now owns 2,089 shares of the company’s stock worth $338,000 after acquiring an additional 57 shares in the last quarter. Legacy Capital Group California Inc. raised its position in Vertiv by 3.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 1,859 shares of the company’s stock worth $301,000 after acquiring an additional 57 shares in the last quarter. Fairfield Financial Advisors LTD raised its position in Vertiv by 2.3% in the fourth quarter. Fairfield Financial Advisors LTD now owns 2,564 shares of the company’s stock worth $415,000 after acquiring an additional 58 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in Vertiv by 2.3% in the fourth quarter. Rothschild Investment LLC now owns 2,685 shares of the company’s stock worth $435,000 after acquiring an additional 61 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.
Vertiv Price Performance
NYSE VRT opened at $334.22 on Wednesday. The stock’s 50-day moving average price is $307.01 and its two-hundred day moving average price is $236.04. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.69. The company has a market cap of $128.38 billion, a PE ratio of 83.98, a PEG ratio of 1.40 and a beta of 2.03. Vertiv Holdings Co. has a 1 year low of $107.38 and a 1 year high of $379.93.
Vertiv Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, March 17th. Vertiv’s payout ratio is presently 6.28%.
Insider Transactions at Vertiv
In other Vertiv news, Director Edward L. Monser sold 77,294 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $245.49, for a total transaction of $18,974,904.06. Following the sale, the director owned 16,500 shares in the company, valued at approximately $4,050,585. The trade was a 82.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Analyst Upgrades and Downgrades
VRT has been the topic of several research reports. Barclays boosted their price target on shares of Vertiv from $345.00 to $412.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Bank of America boosted their price target on shares of Vertiv from $370.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Roth Mkm reiterated a “buy” rating and issued a $355.00 price target on shares of Vertiv in a research report on Thursday, May 21st. The Goldman Sachs Group boosted their price target on shares of Vertiv from $277.00 to $311.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Vertiv from $356.00 to $435.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.32.
Read Our Latest Report on Vertiv
Vertiv Profile
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
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