Steel Grove Capital Advisors LLC Purchases Shares of 5,000 Vertiv Holdings Co (NYSE:VRT)

Steel Grove Capital Advisors LLC acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the 1st quarter, Holdings Channel reports. The fund acquired 5,000 shares of the company’s stock, valued at approximately $408,000.

A number of other hedge funds have also modified their holdings of the company. Bogart Wealth LLC acquired a new stake in shares of Vertiv in the first quarter valued at approximately $25,000. Atticus Wealth Management LLC bought a new stake in Vertiv in the 1st quarter valued at $27,000. Hazlett Burt & Watson Inc. acquired a new stake in Vertiv during the 1st quarter valued at $34,000. RiverPark Advisors LLC bought a new position in Vertiv during the first quarter worth $35,000. Finally, ORG Partners LLC acquired a new position in shares of Vertiv in the first quarter valued at $37,000. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America lifted their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Mizuho upped their target price on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. The Goldman Sachs Group lowered their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen boosted their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer increased their price objective on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insiders Place Their Bets

In other news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction dated Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Doherty Philip O’ sold 2,511,295 shares of the company’s stock in a transaction on Monday, April 29th. The shares were 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 in the company, valued at approximately $873,116,308.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Yibin Edward Cui sold 668 shares of the stock in a transaction dated Saturday, May 4th. The shares were 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 owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,674,034 shares of company stock worth $354,931,478. Insiders own 5.01% of the company’s stock.

Vertiv Trading Up 0.8 %

Shares of Vertiv stock traded up $0.64 on Friday, hitting $77.12. The stock had a trading volume of 7,834,561 shares, compared to its average volume of 9,546,067. The stock has a 50 day moving average of $91.90 and a 200 day moving average of $79.97. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. Vertiv Holdings Co has a twelve month low of $25.09 and a twelve month high of $109.27. The firm has a market capitalization of $28.87 billion, a P/E ratio of 74.15, a PEG ratio of 1.06 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 49.53% and a net margin of 6.93%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal 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. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) 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.