Spire Wealth Management Cuts Holdings in Vertiv Holdings Co (NYSE:VRT)

Spire Wealth Management trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRTFree Report) by 71.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,920 shares of the company’s stock after selling 4,836 shares during the quarter. Spire Wealth Management’s holdings in Vertiv were worth $157,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new position in Vertiv during the fourth quarter valued at approximately $1,040,000. Xponance Inc. boosted its stake in Vertiv by 2.9% in the fourth quarter. Xponance Inc. now owns 14,984 shares of the company’s stock valued at $720,000 after acquiring an additional 426 shares in the last quarter. WT Asset Management Ltd acquired a new stake in Vertiv in the fourth quarter valued at approximately $24,486,000. CenterBook Partners LP boosted its stake in Vertiv by 82.0% in the third quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock valued at $6,508,000 after acquiring an additional 78,793 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its stake in Vertiv by 791.6% in the third quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock valued at $3,445,000 after acquiring an additional 82,239 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Evercore ISI lifted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Mizuho lifted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup lifted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Get Our Latest Stock Report on VRT

Vertiv Stock Performance

Shares of Vertiv stock traded up $2.51 during trading on Monday, hitting $99.32. 6,050,768 shares of the company’s stock were exchanged, compared to its average volume of 8,047,751. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The business has a 50-day simple moving average of $85.87 and a 200-day simple moving average of $64.17. Vertiv Holdings Co has a 52-week low of $15.64 and a 52-week high of $104.76. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 95.50, a PEG ratio of 1.46 and a beta of 1.55.

Vertiv (NYSE:VRTGet Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Vertiv Holdings Co will post 2.42 EPS for the current year.

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vertiv news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now owns 19,452 shares of the company’s stock, valued at $1,836,074.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,426,331 shares of company stock valued at $312,577,246. Corporate insiders own 5.01% of the company’s stock.

Vertiv Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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