12,571 Shares of Vertiv Holdings Co. $VRT Bought by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management initiated a position in Vertiv, buying 12,571 shares worth approximately $3.03 million in the third quarter. Institutional investors and hedge funds collectively own about 89.92% of the stock.
• Vertiv reported quarterly EPS of $2.21 and revenue of $4.31 billion, exceeding analyst estimates of $1.82 and $3.75 billion, respectively; revenue rose 61.2% year over year.
• The stock opened at $182.49, well below its 52-week high of $379.93. Recent concerns about potential data-center permitting limits have weighed on shares, though reports cited in the article say Vertiv’s orders have not yet been affected.

Elite Wealth Management Inc. acquired a new stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,571 shares of the company's stock, valued at approximately $3,034,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRT. State Street Corp grew its stake in Vertiv by 4.5% during the second quarter. State Street Corp now owns 16,531,530 shares of the company's stock worth $5,535,087,000 after purchasing an additional 704,970 shares during the period. Wellington Management Group LLP increased its holdings in Vertiv by 14.1% in the second quarter. Wellington Management Group LLP now owns 3,794,360 shares of the company's stock worth $1,270,428,000 after purchasing an additional 468,380 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Vertiv by 1.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,709,276 shares of the company's stock worth $678,890,000 after purchasing an additional 51,328 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Vertiv by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 2,410,642 shares of the company's stock worth $604,059,000 after purchasing an additional 608,176 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Vertiv by 1.1% in the second quarter. Legal & General Group Plc now owns 2,138,967 shares of the company's stock valued at $716,169,000 after buying an additional 23,444 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

More Vertiv News

Here are the key news stories impacting Vertiv this week:

• Positive Sentiment: Vertiv’s recent quarter reportedly beat revenue estimates by about $550 million, delivered record results and came with raised guidance. One Wall Street team argues the selloff may overstate the threat because orders have not yet been affected. Vertiv Beat by $550 Million Last Week. It Has Lost 23% Since Tuesday’s Vote Vertiv Suffered a Near 40% Drop Over 6 Months
• Positive Sentiment: A report says Vertiv has locked in three years of AI power-chip supply. Securing supply could help the company serve continued demand for data-center infrastructure. Vertiv Holdings Co Locked In Three Years Of AI Power Chip Supply
• Neutral Sentiment: Zacks describes VRT as a strong growth stock, but its article highlights a research-service stock-rating framework rather than a new company development. Here's Why Vertiv Holdings Co. Is a Strong Growth Stock
• Negative Sentiment: The main near-term pressure is concern that the election outcome and potential data-center permitting limits, including a reported Texas permit freeze, could restrain AI infrastructure spending. The reports indicate this is a prospective risk; they do not establish that Vertiv’s orders have declined. Steve Weiss Says the Midterms Just Put a Lid on AI Spending
• Negative Sentiment: Broader weakness in AI-related stocks and ETFs may be adding to pressure on VRT, while the article notes the shares have lost about 23% since Tuesday’s vote. Some of the Year's Hottest AI ETFs Are in Big Trouble Today

Insider Activity at Vertiv

In other news, Director Edward Monser sold 15,287 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $253.82, for a total transaction of $3,880,146.34. Following the transaction, the director directly owned 16,500 shares of the company's stock, valued at $4,188,030. This represents a 48.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Vertiv Stock Performance

Shares of Vertiv stock opened at $182.49 on Monday. Vertiv Holdings Co. has a one year low of $147.82 and a one year high of $379.93. The firm has a market capitalization of $70.27 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 0.58 and a beta of 2.11. The business has a 50-day simple moving average of $236.97 and a 200 day simple moving average of $269.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.01.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.39. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.75 billion. Vertiv had a return on equity of 53.31% and a net margin of 15.99%. The firm's revenue for the quarter was up 61.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. On average, research analysts anticipate that Vertiv Holdings Co. will post 7.17 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Monday, September 14th were issued a dividend of $0.0625 per share. The ex-dividend date was Monday, September 14th. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. Vertiv's payout ratio is currently 4.67%.

Wall Street Analyst Weigh In

VRT has been the topic of a number of research analyst reports. Robert W. Baird set a $320.00 price target on Vertiv and gave the stock an "outperform" rating in a report on Thursday, July 30th. Zacks Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th. Sanford C. Bernstein lifted their price objective on shares of Vertiv from $368.00 to $376.00 and gave the company an "outperform" rating in a research note on Thursday, October 29th. TD Cowen boosted their target price on shares of Vertiv from $356.00 to $357.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Finally, Bank of America cut their target price on shares of Vertiv from $440.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $337.78.

Vertiv Profile

Vertiv Holdings Co NYSE: VRT designs, manufactures and services critical digital infrastructure used by data centers, communications networks and commercial and industrial facilities. Its offerings help customers maintain reliable power, cooling and operating conditions for technology systems.

The company's products and solutions include uninterruptible power supplies, power distribution equipment, thermal management systems, racks, integrated modular infrastructure, and monitoring and control software.

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