Vertiv Holdings Co (NYSE:VRT) Stock Position Reduced by Highland Capital Management LLC

Highland Capital Management LLC decreased its stake in Vertiv Holdings Co (NYSE:VRT) by 23.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,559 shares of the company’s stock after selling 5,177 shares during the quarter. Highland Capital Management LLC’s holdings in Vertiv were worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Ibex Wealth Advisors purchased a new stake in shares of Vertiv during the fourth quarter worth $7,583,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Vertiv by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 586,562 shares of the company’s stock valued at $66,639,000 after buying an additional 21,108 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Vertiv by 12.5% in the 4th quarter. Sumitomo Life Insurance Co. now owns 76,145 shares of the company’s stock valued at $8,651,000 after buying an additional 8,445 shares in the last quarter. R Squared Ltd bought a new position in Vertiv during the fourth quarter valued at approximately $57,000. Finally, Wealth Effects LLC lifted its stake in Vertiv by 6.0% in the fourth quarter. Wealth Effects LLC now owns 7,050 shares of the company’s stock valued at $801,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays started coverage on Vertiv in a research report on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price target for the company. TD Cowen increased their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Fox Advisors began coverage on Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. Finally, Citigroup increased their price target on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Vertiv Stock Up 3.8 %

NYSE VRT opened at $114.61 on Friday. Vertiv Holdings Co has a twelve month low of $55.00 and a twelve month high of $155.84. The stock has a market cap of $43.02 billion, a PE ratio of 76.41, a PEG ratio of 1.16 and a beta of 1.63. The firm has a 50-day simple moving average of $126.63 and a 200 day simple moving average of $105.75. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv Increases Dividend

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

Insider Activity

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction 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 directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the sale, the director now owns 3,425 shares in the company, valued at $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock worth $23,105,682. Corporate insiders own 5.01% of the company’s stock.

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.