Korea Investment CORP Sells 120,470 Shares of Vertiv Holdings Co (NYSE:VRT)

Korea Investment CORP trimmed its position in shares of Vertiv Holdings Co (NYSE:VRT) by 25.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 348,896 shares of the company’s stock after selling 120,470 shares during the period. Korea Investment CORP’s holdings in Vertiv were worth $39,638,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. bought a new stake in shares of Vertiv in the 4th quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC increased its position in Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Vertiv in the third quarter valued at approximately $30,000. OLD Second National Bank of Aurora bought a new position in shares of Vertiv during the 4th quarter worth approximately $30,000. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Vertiv by 61.3% during the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock worth $33,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of VRT stock opened at $76.44 on Friday. Vertiv Holdings Co has a twelve month low of $62.40 and a twelve month high of $155.84. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $103.98 and a 200 day simple moving average of $111.23. The company has a market cap of $29.11 billion, a P/E ratio of 59.72, a P/E/G ratio of 1.07 and a beta of 1.71.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the prior year, the company posted $0.56 EPS. On average, sell-side analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.20%. Vertiv’s dividend payout ratio (DPR) is presently 11.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on VRT. Royal Bank of Canada began coverage on shares of Vertiv in a research report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective for the company. Barclays decreased their price target on shares of Vertiv from $111.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup raised their price objective on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Melius Research reissued a “hold” rating and issued a $125.00 target price on shares of Vertiv in a research report on Tuesday, January 28th. Finally, Melius cut shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.33.

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.