Janney Montgomery Scott LLC Sells 18,099 Shares of Vertiv Holdings Co (NYSE:VRT)

Janney Montgomery Scott LLC cut its position in Vertiv Holdings Co (NYSE:VRT) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 168,716 shares of the company’s stock after selling 18,099 shares during the period. Janney Montgomery Scott LLC’s holdings in Vertiv were worth $16,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Vertiv by 25.1% in 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 increased its holdings in shares of Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the period. NBC Securities Inc. raised its position in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares in the last quarter. Callan Family Office LLC boosted its stake 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 valued at $1,491,000 after buying an additional 137 shares during the period. Finally, Optimum Investment Advisors grew its position in Vertiv by 11.1% during the third quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock worth $149,000 after buying an additional 150 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on VRT. Mizuho lifted their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer upped their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Bank of America boosted their target price 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. Finally, Evercore ISI increased their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $122.11.

Vertiv Price Performance

Shares of NYSE:VRT opened at $112.57 on Wednesday. Vertiv Holdings Co has a one year low of $38.68 and a one year high of $116.41. 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 company has a market cap of $42.25 billion, a price-to-earnings ratio of 75.05, a PEG ratio of 1.16 and a beta of 1.58. The firm has a 50 day simple moving average of $98.13 and a 200 day simple moving average of $91.70.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the business posted $0.52 EPS. Vertiv’s revenue for the quarter was up 19.0% on a year-over-year basis. Research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 6.67%.

Vertiv Profile

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.