Cibc World Markets Corp Decreases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Cibc World Markets Corp reduced its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,128 shares of the company's stock after selling 4,595 shares during the period. Cibc World Markets Corp's holdings in Vertiv were worth $1,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SOA Wealth Advisors LLC. purchased a new stake in Vertiv in the fourth quarter worth about $26,000. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Vertiv during the third quarter valued at approximately $30,000. OLD Second National Bank of Aurora purchased a new position in Vertiv during the fourth quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC lifted its holdings in Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock worth $33,000 after buying an additional 111 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

Shares of Vertiv stock traded down $2.14 on Tuesday, reaching $91.55. 6,843,944 shares of the stock were exchanged, compared to its average volume of 8,522,945. The business has a 50 day moving average price of $106.85 and a two-hundred day moving average price of $111.55. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 71.52, a PEG ratio of 1.07 and a beta of 1.71. 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.

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Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.56 earnings per share. Analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, March 18th. Vertiv's payout ratio is currently 11.72%.

Analysts Set New Price Targets

VRT has been the topic of a number of analyst reports. Royal Bank of Canada assumed coverage on Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price target on the stock. Barclays reduced their target price on shares of Vertiv from $131.00 to $111.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Morgan Stanley initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an "overweight" rating and a $150.00 price objective on the stock. Melius lowered shares of Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Citigroup raised their target price on shares of Vertiv from $141.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.07.

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.