Harvest Investment Services LLC Sells 20,428 Shares of Vertiv Holdings Co (NYSE:VRT)

Harvest Investment Services LLC cut its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 48.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,882 shares of the company's stock after selling 20,428 shares during the period. Harvest Investment Services LLC's holdings in Vertiv were worth $2,486,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of Vertiv by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,126 shares of the company's stock worth $128,000 after purchasing an additional 84 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after acquiring an additional 85 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Vertiv by 4.1% during the fourth quarter. Accurate Wealth Management LLC now owns 2,234 shares of the company's stock valued at $254,000 after acquiring an additional 87 shares in the last quarter. Horizon Investment Services LLC raised its position in shares of Vertiv by 4.1% in the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after purchasing an additional 95 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Vertiv by 61.3% in the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock worth $33,000 after purchasing an additional 111 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on VRT. KGI Securities assumed coverage on shares of Vertiv in a report on Thursday. They issued a "hold" rating for the company. The Goldman Sachs Group lowered their price objective on Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on Vertiv from $132.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Fox Advisors began coverage on Vertiv in a research report on Monday, January 6th. They set an "equal weight" rating on the stock. Finally, Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.38.

Vertiv Stock Performance

Shares of NYSE VRT traded up $3.18 during trading on Friday, hitting $87.06. The company had a trading volume of 14,306,641 shares, compared to its average volume of 9,060,980. The stock has a 50 day simple moving average of $81.52 and a 200 day simple moving average of $107.71. The firm has a market capitalization of $33.15 billion, a P/E ratio of 68.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. As a group, analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid 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 yield of 0.17%. Vertiv's payout ratio is 8.72%.

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.