Cherry Creek Investment Advisors Inc. Sells 19,900 Shares of Vertiv Holdings Co (NYSE:VRT)

Cherry Creek Investment Advisors Inc. lessened its holdings in Vertiv Holdings Co (NYSE:VRT) by 42.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,986 shares of the company’s stock after selling 19,900 shares during the quarter. Vertiv comprises 1.4% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 22nd largest position. Cherry Creek Investment Advisors Inc.’s holdings in Vertiv were worth $2,685,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new stake in Vertiv during the 2nd quarter valued at about $26,000. Atticus Wealth Management LLC bought a new stake in shares of Vertiv during the first quarter valued at approximately $27,000. Mather Group LLC. lifted its position in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the 3rd quarter worth $29,000. Finally, OFI Invest Asset Management purchased a new position in shares of Vertiv in the second quarter worth $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv Stock Performance

VRT opened at $108.26 on Thursday. The firm has a market cap of $40.53 billion, a P/E ratio of 104.10, a PEG ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $116.41. The company has a 50 day simple moving average of $92.37 and a two-hundred day simple moving average of $89.83. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Equities analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Oppenheimer increased their target price on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Mizuho raised their target price on Vertiv from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Evercore ISI raised their price objective on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average price target of $112.44.

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.