Sunbelt Securities Inc. Acquires Shares of 13,440 Vertiv Holdings Co (NYSE:VRT)

Sunbelt Securities Inc. bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,440 shares of the company’s stock, valued at approximately $1,098,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of Vertiv during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. boosted its stake in shares of Vertiv by 79.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Vertiv in the fourth quarter valued at approximately $38,000. Quadrant Capital Group LLC increased its position in shares of Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares during the last quarter. Finally, TFC Financial Management Inc. bought a new stake in Vertiv during the fourth quarter worth $42,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRT. Bank of America upped their price objective on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Citigroup boosted their target price on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Oppenheimer upped their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Evercore ISI raised their target price on Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.11.

Vertiv Stock Performance

Shares of NYSE:VRT traded up $2.57 during midday trading on Tuesday, reaching $91.71. 6,715,097 shares of the company traded hands, compared to its average volume of 8,422,744. Vertiv Holdings Co has a 12 month low of $23.07 and a 12 month high of $109.27. The firm’s fifty day moving average price is $93.60 and its two-hundred day moving average price is $73.78. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $34.33 billion, a price-to-earnings ratio of 88.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.56.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, equities analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 17th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date is Monday, June 17th. Vertiv’s payout ratio is 9.62%.

Insiders Place Their Bets

In other news, Director Doherty Philip O’ sold 2,511,295 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the transaction, the director now owns 9,324,181 shares of the company’s stock, valued at $873,116,308.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Yibin Edward Cui sold 668 shares of the stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doherty Philip O’ sold 2,511,295 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the sale, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Insiders have sold 4,162,739 shares of company stock worth $400,713,362 in the last ninety days. 5.01% of the stock is currently owned by insiders.

Vertiv Company 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.