abrdn plc Trims Stake in Vertiv Holdings Co (NYSE:VRT)

abrdn plc reduced its position in Vertiv Holdings Co (NYSE:VRT) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silverleafe Capital Partners LLC purchased a new stake in Vertiv in the 4th quarter worth about $4,219,000. Foundations Investment Advisors LLC increased its position in shares of Vertiv by 7.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock worth $21,076,000 after acquiring an additional 13,559 shares during the period. Whittier Trust Co. increased its position in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after acquiring an additional 8,579 shares during the period. Janney Capital Management LLC purchased a new position in shares of Vertiv during the third quarter worth approximately $8,403,000. Finally, Gordian Capital Singapore Pte Ltd increased its position in shares of Vertiv by 112.5% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock worth $846,000 after acquiring an additional 4,500 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 over the last ninety days. 5.01% of the stock is currently owned by insiders.

Vertiv Price Performance

Shares of VRT opened at $121.42 on Friday. The firm has a market capitalization of $45.57 billion, a PE ratio of 80.95, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 1-year low of $55.00 and a 1-year high of $155.84. The company’s fifty day moving average price is $124.52 and its 200-day moving average price is $106.87.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is 6.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRT shares. Barclays started coverage on shares of Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. Morgan Stanley began coverage on shares of Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen lifted 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, Melius Research reissued 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 stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Vertiv Company 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.