Hussman Strategic Advisors Inc. Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

Hussman Strategic Advisors Inc. trimmed its holdings in Vertiv Holdings Co (NYSE:VRT) by 50.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,500 shares of the company’s stock after selling 10,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Vertiv were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VRT. Norges Bank bought a new stake in Vertiv during the 4th quarter valued at $185,339,000. Price T Rowe Associates Inc. MD increased its holdings in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Coatue Management LLC raised its position in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the period. Finally, Castle Hook Partners LP bought a new stake in shares of Vertiv in the 1st quarter worth approximately $135,987,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Up 3.9 %

VRT stock traded up $3.11 on Friday, reaching $83.03. 7,100,964 shares of the company traded hands, compared to its average volume of 8,246,931. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a fifty day simple moving average of $81.94 and a 200-day simple moving average of $83.57. Vertiv Holdings Co has a one year low of $34.60 and a one year high of $109.27. The company has a market cap of $31.15 billion, a P/E ratio of 79.84, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. Research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.025 per share. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio is 9.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRT. TD Cowen raised their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI reiterated an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Finally, Bank of America raised their target price on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Nine investment 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 $96.22.

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.