New Wave Wealth Advisors LLC Reduces Stock Position in Vertiv Holdings Co (NYSE:VRT)

New Wave Wealth Advisors LLC trimmed its position in Vertiv Holdings Co (NYSE:VRT) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 5,555 shares of the company’s stock after selling 204 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Vertiv were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRT. State Street Corp raised its position in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after buying an additional 308,704 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertiv by 7.4% during the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares during the last quarter. Jennison Associates LLC lifted its position in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares during the period. Wellington Management Group LLP boosted its holdings in Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after purchasing an additional 40,696 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Up 3.8 %

Vertiv stock opened at $114.61 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a 50 day moving average price of $126.08 and a 200 day moving average price of $105.81. Vertiv Holdings Co has a fifty-two week low of $55.00 and a fifty-two week high of $155.84. The company has a market capitalization of $43.02 billion, a PE ratio of 76.41, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

VRT has been the subject of several analyst reports. Melius cut Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday. Evercore ISI decreased their price target on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Morgan Stanley started coverage on shares of Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective on the stock. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Bank of America lifted their price target 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average price target of $139.36.

Insider Buying and Selling

In other news, Director Jan Van Dokkum sold 38,647 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $3,409,750. The trade was a 60.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 86,619 shares of Vertiv 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 transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Vertiv 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.