Venturi Wealth Management LLC Lowers Holdings in Vertiv Holdings Co (NYSE:VRT)
Venturi Wealth Management LLC significantly reduced its stake in Vertiv Holdings Co (NYSE:VRT) by 86.3% in Q3, now holding 669 shares after selling 4,203 shares. Other institutional investors, including ORG Partners LLC and Allworth Financial LP, have also adjusted their stakes. Insider Karsten Winther sold 44,924 shares, reducing ownership by 80.99%. Analysts have given Vertiv a "buy" rating, with price targets raised by several firms. The stock is currently trading down 2.8% and has a market cap of $4.44 billion.
Venturi Wealth Management LLC reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 86.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669 shares of the company's stock after selling 4,203 shares during the quarter. Venturi Wealth Management LLC's holdings in Vertiv were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other institutional investors have also added to or reduced their stakes in VRT. ORG Partners LLC grew its stake in Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company's stock valued at $46,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Vertiv by 18.6% during the 3rd quarter. Allworth Financial LP now owns 638 shares of the company's stock valued at $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. grew its position in shares of Vertiv by 0.9% during the third quarter. NBC Securities Inc. now owns 13,125 shares of the company's stock valued at $1,305,000 after purchasing an additional 112 shares in the last quarter. Nvwm LLC increased its holdings in shares of Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company's stock worth $998,000 after purchasing an additional 124 shares during the last quarter. Finally, Callan Family Office LLC lifted its position in shares of Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company's stock worth $1,491,000 after buying an additional 137 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Vertiv
In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 10,542 shares of the company's stock, valued at $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.01% of the company's stock.
Wall Street Analyst Weigh In
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VRT has been the topic of a number of research reports. Bank of America lifted their price objective on Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a "buy" rating and a $125.00 price target on the stock. TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Citigroup upped their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Evercore ISI lifted their price target on Vertiv from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $125.40.
Get Our Latest Stock Analysis on VRT
Vertiv Trading Down 2.8 %
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VRT opened at $121.07 on Friday. 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 stock's 50 day moving average price is $103.47 and its 200-day moving average price is $93.30. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30. The stock has a market cap of $45.44 billion, a price-to-earnings ratio of 80.71, a P/E/G ratio of 1.34 and a beta of 1.58.
Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. On average, equities analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.
Vertiv Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv's dividend payout ratio is currently 6.67%.
Vertiv Company Profile
(Free Report)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.
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