Cibc World Markets Corp Sells 4,595 Shares of Vertiv Holdings Co (NYSE:VRT)

Cibc World Markets Corp lowered its stake in Vertiv Holdings Co (NYSE:VRT) by 22.2% in the fourth quarter, Holdings Channel reports. The fund owned 16,128 shares of the company’s stock after selling 4,595 shares during the quarter. Cibc World Markets Corp’s holdings in Vertiv were worth $1,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VRT. Jennison Associates LLC lifted its holdings in shares of Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after acquiring an additional 3,153,932 shares during the last quarter. Wellington Management Group LLP raised its holdings in Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the last quarter. Castle Hook Partners LP raised its holdings in Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after buying an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in Vertiv in the 3rd quarter valued at approximately $110,517,000. Finally, Blue Whale Capital LLP bought a new position in Vertiv in the 3rd quarter valued at approximately $93,481,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $88.58 on Friday. The company has a market cap of $33.73 billion, a price-to-earnings ratio of 69.20, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. Vertiv Holdings Co has a 52 week low of $62.40 and a 52 week high of $155.84. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $107.46 and a 200-day moving average of $110.91.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, equities analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 18th will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, March 18th. Vertiv’s payout ratio is currently 11.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRT. Melius Research reiterated a “hold” rating and issued a $125.00 price objective on shares of Vertiv in a report on Tuesday, January 28th. Citigroup raised their price objective on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada began coverage on shares of Vertiv in a report on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective for the company. Morgan Stanley initiated coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Finally, Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.07.

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.