Garrison Asset Management LLC Has $3.03 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

Garrison Asset Management LLC decreased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,969 shares of the company’s stock after selling 146 shares during the quarter. Vertiv makes up about 1.6% of Garrison Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Garrison Asset Management LLC’s holdings in Vertiv were worth $3,027,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VRT. Bogart Wealth LLC bought a new position in shares of Vertiv in the 1st quarter valued at about $25,000. Raleigh Capital Management Inc. grew 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 purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the 1st quarter worth approximately $27,000. Mather Group LLC. raised its stake in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Vertiv in the 1st quarter valued at approximately $34,000. Institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the topic of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. TD Cowen upped their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group reduced their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $102.13.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Down 1.2 %

Vertiv stock opened at $85.76 on Friday. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27. The stock has a market cap of $32.10 billion, a P/E ratio of 82.46, a P/E/G ratio of 1.08 and a beta of 1.58. The company’s 50-day moving average price is $79.75 and its two-hundred day moving average price is $84.64. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

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.