Parsons Capital Management Inc. RI Trims Position in Vertiv Holdings Co (NYSE:VRT)

Parsons Capital Management Inc. RI reduced its position in Vertiv Holdings Co (NYSE:VRT) by 19.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,926 shares of the company’s stock after selling 4,623 shares during the period. Parsons Capital Management Inc. RI’s holdings in Vertiv were worth $2,150,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after acquiring an additional 408,054 shares during the period. Jennison Associates LLC boosted 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 last quarter. Wellington Management Group LLP increased its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after purchasing an additional 40,696 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Fox Advisors assumed coverage on Vertiv in a report on Monday, January 6th. They set an “equal weight” rating for the company. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. TD Cowen increased their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley began coverage on shares of Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.75.

Vertiv Stock Down 29.8 %

Shares of NYSE:VRT opened at $102.72 on Tuesday. The company’s fifty day moving average is $128.27 and its two-hundred day moving average is $105.53. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a 1-year low of $53.30 and a 1-year high of $155.84. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 68.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63.

Vertiv Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.15%. Vertiv’s dividend payout ratio is 6.67%.

Insider Transactions at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by company insiders.

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.