Kingsview Wealth Management LLC Sells 90 Shares of Vertiv Holdings Co (NYSE:VRT)

Kingsview Wealth Management LLC decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,654 shares of the company’s stock after selling 90 shares during the period. Kingsview Wealth Management LLC’s holdings in Vertiv were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC bought a new position in Vertiv during the 2nd quarter valued at approximately $26,000. Mather Group LLC. raised its position in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Vertiv during the 3rd quarter valued at approximately $29,000. Global Trust Asset Management LLC bought a new position in Vertiv during the 3rd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new position in Vertiv during the 2nd quarter valued at approximately $34,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,451 shares of company stock worth $26,699,153. Insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Vertiv stock opened at $126.94 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $47.65 billion, a P/E ratio of 84.63, a PEG ratio of 1.36 and a beta of 1.58. The stock’s 50 day moving average is $114.21 and its 200 day moving average is $96.11. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $145.67.

Vertiv (NYSE:VRT) last issued its 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 the consensus estimate of $1.98 billion. During the same period last year, the business posted $0.52 EPS. The company’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Wall Street Analyst Weigh In

VRT has been the subject of several research reports. Mizuho increased their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. TD Cowen increased 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. JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Finally, The Goldman Sachs Group increased their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $138.50.

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.