Icon Wealth Advisors LLC Sells 1,115 Shares of Vertiv Holdings Co (NYSE:VRT)

Icon Wealth Advisors LLC cut its position in shares of Vertiv Holdings Co (NYSE:VRT) by 72.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 423 shares of the company’s stock after selling 1,115 shares during the period. Icon Wealth Advisors LLC’s holdings in Vertiv were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv in the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD raised its position in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after acquiring an additional 3,591,903 shares in the last quarter. Swedbank AB raised its position in shares of Vertiv by 247.5% in the 2nd quarter. Swedbank AB now owns 674,493 shares of the company’s stock worth $58,391,000 after acquiring an additional 480,394 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after acquiring an additional 451,830 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $10,074,936 over the last quarter. 5.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen upped their target price on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI upped their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Down 0.9 %

Vertiv stock opened at $140.15 on Monday. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $145.67. 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 company has a market cap of $52.60 billion, a PE ratio of 93.43, a PEG ratio of 1.45 and a beta of 1.58. The business’s 50-day simple moving average is $110.94 and its two-hundred day simple moving average is $95.18.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is presently 6.67%.

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.