Hodges Capital Management Inc. Cuts Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Hodges Capital Management Inc. lessened its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 80.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,026 shares of the company's stock after selling 81,199 shares during the quarter. Hodges Capital Management Inc.'s holdings in Vertiv were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC raised its holdings in shares of Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company's stock worth $221,013,000 after purchasing an additional 340,639 shares during the period. Whittier Trust Co. raised its holdings in Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company's stock valued at $12,656,000 after acquiring an additional 8,579 shares during the period. Janney Capital Management LLC bought a new stake in Vertiv during the 3rd quarter valued at $8,403,000. Assenagon Asset Management S.A. raised its holdings in Vertiv by 190.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company's stock valued at $5,564,000 after acquiring an additional 36,684 shares during the period. Finally, KBC Group NV raised its holdings in Vertiv by 46.8% during the 3rd quarter. KBC Group NV now owns 76,932 shares of the company's stock valued at $7,654,000 after acquiring an additional 24,526 shares during the period. Institutional investors own 89.92% of the company's stock.

Insider Buying and Selling at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares of the company's stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company's stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 over the last three months. Company insiders own 5.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho boosted their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They set a "buy" rating and a $125.00 target price on the stock. Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Citigroup upped their price target on shares of Vertiv from $141.00 to $155.00 and gave the stock a "buy" rating in a report on Monday. Finally, The Goldman Sachs Group upped their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $139.90.

Vertiv Price Performance

NYSE:VRT traded down $7.64 during midday trading on Monday, hitting $126.21. The company had a trading volume of 8,954,103 shares, compared to its average volume of 8,160,417. Vertiv Holdings Co has a 52-week low of $44.31 and a 52-week high of $145.67. The stock's fifty day moving average price is $118.10 and its 200-day moving average price is $97.40. The company has a market capitalization of $47.37 billion, a PE ratio of 84.14, a P/E/G ratio of 1.38 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. This is a positive change from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv's dividend payout ratio is presently 6.67%.

Vertiv 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.