1858 Wealth Management LLC Acquires 6,563 Shares of Vertiv Holdings Co. (NYSE:VRT)

1858 Wealth Management LLC lifted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,124 shares of the company's stock after acquiring an additional 6,563 shares during the quarter. Vertiv makes up 1.6% of 1858 Wealth Management LLC's portfolio, making the stock its 19th biggest position. 1858 Wealth Management LLC's holdings in Vertiv were worth $1,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after acquiring an additional 99,181 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv during the fourth quarter valued at approximately $597,379,000. Wellington Management Group LLP raised its holdings in shares of Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after acquiring an additional 990,361 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Vertiv by 4.8% during the fourth quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company's stock valued at $414,373,000 after acquiring an additional 167,061 shares in the last quarter. Institutional investors own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRT. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Citigroup increased their price objective on Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, June 16th. JPMorgan Chase & Co. increased their price objective on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Roth Mkm began coverage on Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Finally, Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertiv currently has a consensus rating of "Moderate Buy" and an average price target of $126.69.

Vertiv Price Performance

Shares of NYSE:VRT opened at $118.69 on Friday. Vertiv Holdings Co. has a 1-year low of $53.60 and a 1-year high of $155.84. The business has a fifty day moving average price of $99.40 and a 200-day moving average price of $103.49. The company has a market capitalization of $45.23 billion, a PE ratio of 69.01, a PEG ratio of 1.19 and a beta of 1.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.43 EPS. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, equities analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be issued a $0.0375 dividend. This represents a yield of 0.14%. This is an increase from Vertiv's previous dividend of $0.01. The ex-dividend date is Monday, June 16th. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, the executive vice president now directly owns 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

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.

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