Floyd Financial Group LLC Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

Floyd Financial Group LLC purchased a new stake in shares of Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,573 shares of the company’s stock, valued at approximately $974,000.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its position in Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares during the period. Geode Capital Management LLC increased its stake in shares of Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Jennison Associates LLC raised its holdings in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Wellington Management Group LLP lifted its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the second quarter valued at about $331,091,000. Institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley assumed coverage on Vertiv in a research note on Monday, January 6th. They issued an “overweight” rating and a $150.00 price objective for the company. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $140.92.

Vertiv Trading Up 3.8 %

Shares of NYSE VRT opened at $128.67 on Wednesday. Vertiv Holdings Co has a 1-year low of $48.86 and a 1-year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business’s 50 day moving average is $125.42 and its two-hundred day moving average is $102.74. The stock has a market capitalization of $48.29 billion, a P/E ratio of 85.78, a PEG ratio of 1.29 and a beta of 1.63.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, research analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is 6.67%.

Insider Activity

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,527 shares of company stock valued at $23,105,682. 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.