Icon Wealth Advisors LLC Decreases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Icon Wealth Advisors LLC cut its stake in Vertiv Holdings Co (NYSE:VRT) by 72.5% in the third quarter, HoldingsChannel reports. The firm owned 423 shares of the company’s stock after selling 1,115 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Vertiv were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRT. Anchor Investment Management LLC acquired a new stake in shares of Vertiv during the second quarter worth about $26,000. Mather Group LLC. raised its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Vertiv during the 3rd quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new stake in Vertiv during the 3rd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in Vertiv during the 2nd quarter valued at approximately $34,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,185 shares of company stock valued at $10,074,936. 5.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Oppenheimer boosted their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Evercore ISI boosted their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

VRT opened at $140.15 on Monday. The stock has a market cap of $52.60 billion, a P/E ratio of 93.43, a P/E/G ratio of 1.45 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $110.94 and its 200 day simple moving average is $95.18. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67.

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

Vertiv Increases Dividend

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

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.