Richmond Investment Services LLC Purchases New Position in Vertiv Holdings Co (NYSE:VRT)

Richmond Investment Services LLC purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,164 shares of the company's stock, valued at approximately $700,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC grew its holdings in shares of Vertiv by 51.4% during the 3rd quarter. Barclays PLC now owns 431,586 shares of the company's stock worth $42,940,000 after purchasing an additional 146,463 shares during the period. Grassi Investment Management purchased a new position in Vertiv during the 4th quarter valued at about $1,380,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Vertiv by 57.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 588 shares of the company's stock valued at $67,000 after acquiring an additional 215 shares during the period. Atomi Financial Group Inc. boosted its holdings in Vertiv by 9.4% during the 4th quarter. Atomi Financial Group Inc. now owns 3,358 shares of the company's stock valued at $382,000 after acquiring an additional 289 shares during the period. Finally, Magnus Financial Group LLC purchased a new position in Vertiv during the 4th quarter valued at about $243,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company's stock, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VRT shares. JPMorgan Chase & Co. lifted their price objective on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. KGI Securities began coverage on Vertiv in a research note on Thursday, April 24th. They issued a "hold" rating for the company. Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Melius Research restated a "hold" rating and set a $125.00 target price on shares of Vertiv in a research note on Tuesday, January 28th. Finally, Roth Capital upgraded Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $122.38.

Vertiv Stock Performance

NYSE VRT traded up $5.64 on Tuesday, reaching $109.78. The stock had a trading volume of 6,448,869 shares, compared to its average volume of 8,961,398. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84. The business's 50-day moving average price is $84.89 and its 200 day moving average price is $105.52. The stock has a market cap of $41.84 billion, a P/E ratio of 85.77, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The firm 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 earnings per share. The company'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 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.14%. Vertiv's payout ratio is currently 8.72%.

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.