Charles Schwab Investment Management Inc. Sells 763,313 Shares of Vertiv Holdings Co (NYSE:VRT)

Charles Schwab Investment Management Inc. lowered its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 31.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,700,194 shares of the company’s stock after selling 763,313 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.45% of Vertiv worth $169,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. ORG Partners LLC grew its stake in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after buying an additional 92 shares during the last quarter. Allworth Financial LP grew its position in shares of Vertiv by 18.6% in the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. grew its position in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after purchasing an additional 112 shares during the last quarter. Nvwm LLC increased its stake in shares of Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock worth $998,000 after purchasing an additional 124 shares during the period. Finally, Callan Family Office LLC lifted its position in shares of Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Down 0.9 %

Shares of VRT opened at $140.15 on Monday. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $145.67. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a P/E/G ratio of 1.45 and a beta of 1.58. The company has a 50-day moving average price of $110.94 and a two-hundred day moving average price of $95.18. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VRT shares. Oppenheimer lifted their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, TD Cowen lifted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and an average price target of $138.50.

Insider Buying and Selling at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. This represents a 81.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock worth $10,074,936 over the last ninety days. Corporate insiders own 5.01% of the company’s stock.

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.