Hodges Capital Management Inc. Decreases Stake in Vertiv Holdings Co (NYSE:VRT)

Hodges Capital Management Inc. decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,731 shares of the company’s stock after selling 295 shares during the quarter. Hodges Capital Management Inc.’s holdings in Vertiv were worth $2,242,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Vertiv by 55.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,523 shares of the company’s stock worth $2,642,000 after purchasing an additional 10,884 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Vertiv in the second quarter worth $475,000. Sanctuary Advisors LLC purchased a new position in Vertiv during the second quarter worth $1,632,000. Harbor Investment Advisory LLC increased its position in Vertiv by 45.1% during the third quarter. Harbor Investment Advisory LLC now owns 1,672 shares of the company’s stock valued at $166,000 after acquiring an additional 520 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Vertiv by 102.1% in the third quarter. GAMMA Investing LLC now owns 1,904 shares of the company’s stock worth $189,000 after buying an additional 962 shares during the period. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRT. Citigroup increased their target price on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Bank of America boosted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley began coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. Mizuho boosted their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Melius Research restated a “hold” rating and set a $125.00 price objective on shares of Vertiv in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Stock Down 3.7 %

Shares of Vertiv stock opened at $112.69 on Tuesday. Vertiv Holdings Co has a 52-week low of $55.00 and a 52-week high of $155.84. The firm’s 50 day moving average price is $125.62 and its 200-day moving average price is $106.30. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The company has a market cap of $42.30 billion, a P/E ratio of 75.13, a PEG ratio of 0.92 and a beta of 1.63.

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 in the last ninety days. 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.