Vertiv Holdings Co (NYSE:VRT) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI trimmed its position in Vertiv Holdings Co (NYSE:VRT) by 19.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter worth approximately $29,000. Anchor Investment Management LLC acquired a new position in Vertiv during the second quarter valued at $26,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC lifted its position in shares of Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Vertiv in the 4th quarter worth approximately $34,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value 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. In the last 90 days, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group started coverage on Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Citigroup upped their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays assumed coverage on Vertiv in a research note on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price objective on the stock. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.75.

Vertiv Stock Performance

VRT opened at $102.72 on Tuesday. The stock’s 50 day simple moving average is $128.27 and its 200-day simple moving average is $105.53. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market cap of $38.55 billion, a PE ratio of 68.48, a P/E/G ratio of 1.16 and a beta of 1.63. Vertiv Holdings Co has a 1 year low of $53.30 and a 1 year high of $155.84.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.15%. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is 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.