Steel Grove Capital Advisors LLC Takes $408,000 Position in Vertiv Holdings Co (NYSE:VRT)

Steel Grove Capital Advisors LLC bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the company’s stock, valued at approximately $408,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in shares of Vertiv during the 1st quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Vertiv in the fourth quarter valued at $26,000. Raleigh Capital Management Inc. boosted its stake in Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv during the first quarter worth about $27,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Vertiv in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of research reports. Mizuho raised their price target on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Bank of America increased their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Citigroup raised their price target on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Evercore ISI upped their price objective on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity

In other news, insider Yibin Edward Cui sold 668 shares of the company’s stock in a transaction on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the sale, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the transaction, the insider now owns 19,452 shares in the company, valued at approximately $1,836,074.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The disclosure for this sale can be found here. Insiders sold a total of 3,674,034 shares of company stock valued at $354,931,478 over the last quarter. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of NYSE VRT traded up $0.64 during trading on Friday, reaching $77.12. The company had a trading volume of 7,834,561 shares, compared to its average volume of 9,546,067. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. Vertiv Holdings Co has a twelve month low of $25.09 and a twelve month high of $109.27. The stock has a 50-day moving average price of $91.90 and a two-hundred day moving average price of $79.97. The stock has a market capitalization of $28.87 billion, a PE ratio of 74.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, June 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.