BOCHK Asset Management Ltd Sells 4,450 Shares of Vertiv Holdings Co (NYSE:VRT)

BOCHK Asset Management Ltd lessened its stake in Vertiv Holdings Co (NYSE:VRT) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,450 shares of the company’s stock after selling 4,450 shares during the period. Vertiv comprises about 2.8% of BOCHK Asset Management Ltd’s holdings, making the stock its 18th largest holding. BOCHK Asset Management Ltd’s holdings in Vertiv were worth $9,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRT. Anchor Investment Management LLC purchased a new position in Vertiv during the 2nd quarter valued at about $26,000. Krane Funds Advisors LLC purchased a new position in Vertiv during the 3rd quarter valued at about $29,000. Global Trust Asset Management LLC purchased a new position in Vertiv during the 3rd quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in Vertiv during the 3rd quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRT shares. TD Cowen boosted their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley started coverage on Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. Oppenheimer upped their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Citigroup upped their target price on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Evercore ISI reduced their target price on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Stock Performance

Shares of VRT opened at $106.14 on Wednesday. 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 business’s 50 day moving average price is $127.16 and its 200-day moving average price is $105.72. Vertiv Holdings Co has a 52 week low of $53.30 and a 52 week high of $155.84. The stock has a market cap of $39.84 billion, a P/E ratio of 70.76, a P/E/G ratio of 1.16 and a beta of 1.63.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a $0.0375 dividend. The ex-dividend date was Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.14%. Vertiv’s dividend payout ratio is 6.67%.

Insider Activity at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by corporate insiders.

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.