Vertiv Holdings Co (NYSE:VRT) Shares Sold by abrdn plc

abrdn plc lowered its position in Vertiv Holdings Co (NYSE:VRT) by 21.6% in the fourth quarter, HoldingsChannel reports. The fund owned 79,543 shares of the company’s stock after selling 21,955 shares during the quarter. abrdn plc’s holdings in Vertiv were worth $9,160,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VRT. Jennison Associates LLC raised its position in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares during the period. Wellington Management Group LLP raised its position in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares during the period. Castle Hook Partners LP raised its position in shares of Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Vertiv in the third quarter worth about $110,517,000. Finally, Blue Whale Capital LLP acquired a new position in shares of Vertiv during the 3rd quarter worth about $93,481,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Vertiv stock opened at $121.42 on Friday. The firm has a 50 day simple moving average of $124.52 and a 200-day simple moving average of $106.87. Vertiv Holdings Co has a 1-year low of $55.00 and a 1-year high of $155.84. 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 has a market cap of $45.57 billion, a price-to-earnings ratio of 80.95, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64.

Vertiv Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is 6.67%.

Insider Activity

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction 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. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 in the last 90 days. Company insiders own 5.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays initiated coverage on shares of Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target for the company. TD Cowen increased their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Evercore ISI cut their price objective on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv currently has an average rating of “Moderate Buy” and an average price target of $139.36.

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.