7,086 Shares in Vertiv Holdings Co. (NYSE:VRT) Bought by Covenant Asset Management LLC

Covenant Asset Management LLC purchased a new position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,086 shares of the company's stock, valued at approximately $512,000.

Several other large investors have also modified their holdings of the stock. North Star Investment Management Corp. grew its stake in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after acquiring an additional 412 shares during the last quarter. Sachetta LLC grew its position in Vertiv by 242.0% in the first quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after acquiring an additional 317 shares in the last quarter. Colonial Trust Co SC grew its position in Vertiv by 211.9% in the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Vertiv in the fourth quarter worth $37,000. Finally, TD Private Client Wealth LLC lifted its stake in Vertiv by 37.5% in the first quarter. TD Private Client Wealth LLC now owns 510 shares of the company's stock valued at $37,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Transactions at Vertiv

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Melius Research raised Vertiv from a "hold" rating to a "strong-buy" rating and increased their target price for the company from $134.00 to $165.00 in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Finally, Roth Capital upgraded Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Vertiv has an average rating of "Buy" and a consensus target price of $136.76.

Vertiv Price Performance

Shares of VRT stock traded down $1.94 during mid-day trading on Friday, hitting $129.18. 5,779,897 shares of the stock were exchanged, compared to its average volume of 8,560,204. The firm has a fifty day moving average of $116.14 and a 200 day moving average of $104.07. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a market cap of $49.23 billion, a PE ratio of 75.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.75.

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, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.43 EPS. Vertiv's quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. Vertiv's dividend payout ratio (DPR) is 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.