EFG Asset Management North America Corp. Has $10.35 Million Holdings in Vertiv Holdings Co. $VRT

EFG Asset Management North America Corp. lowered its holdings in Vertiv Holdings Co. (NYSE:VRT) by 22.1% during the third quarter, HoldingsChannel.com reports. The fund owned 68,621 shares of the company’s stock after selling 19,487 shares during the period. Vertiv accounts for 1.3% of EFG Asset Management North America Corp.’s portfolio, making the stock its 8th largest holding. EFG Asset Management North America Corp.’s holdings in Vertiv were worth $10,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. grew its stake in shares of Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 156 shares during the period. Promus Capital LLC acquired a new stake in Vertiv in the 2nd quarter valued at $26,000. Pacer Advisors Inc. grew its position in Vertiv by 67.6% in the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. Avion Wealth raised its stake in Vertiv by 99.1% during the second quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Vertiv by 54.0% during the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $180.89 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.83. Vertiv Holdings Co. has a 1-year low of $53.60 and a 1-year high of $202.45. The stock has a market capitalization of $69.16 billion, a P/E ratio of 68.26, a P/E/G ratio of 1.12 and a beta of 2.06. The business has a 50-day moving average price of $171.03 and a two-hundred day moving average price of $157.50.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 25th were issued a $0.0625 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, November 25th. Vertiv’s dividend payout ratio (DPR) is currently 9.43%.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of Vertiv stock in a transaction on Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the sale, the executive vice president owned 4,050 shares of the company’s stock, valued at approximately $690,444. The trade was a 57.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VRT shares. JPMorgan Chase & Co. lowered their target price on shares of Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. Evercore ISI upped their price objective on shares of Vertiv from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Citigroup lifted their target price on shares of Vertiv from $198.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, December 8th. TD Cowen reissued a “buy” rating and issued a $211.00 target price on shares of Vertiv in a report on Monday, December 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Vertiv in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.89.

Vertiv Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.