Balboa Wealth Partners Grows Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Balboa Wealth Partners grew its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 68.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,408 shares of the company's stock after purchasing an additional 12,001 shares during the period. Balboa Wealth Partners' holdings in Vertiv were worth $2,123,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. North Star Investment Management Corp. lifted its holdings in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after buying an additional 412 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after acquiring an additional 214 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Vertiv in the fourth quarter worth about $37,000. TD Private Client Wealth LLC boosted its holdings in Vertiv by 150.7% in the fourth quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock valued at $42,000 after purchasing an additional 223 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in Vertiv in the first quarter valued at about $43,000. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insider Buying and Selling

In other news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on 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 sale, the executive vice president now directly owns 9,551 shares of the company's stock, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company's stock.

Vertiv Stock Performance

Vertiv stock opened at $116.53 on Tuesday. The firm has a market capitalization of $44.41 billion, a P/E ratio of 67.75, a P/E/G ratio of 1.19 and a beta of 1.73. The stock has a fifty day moving average price of $100.30 and a two-hundred day moving average price of $103.15. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. 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 results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared 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 is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date is Monday, June 16th. This represents a yield of 0.14%. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

Analysts Set New Price Targets

Several equities analysts have recently commented on VRT shares. Roth Capital upgraded Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays lowered their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Finally, KGI Securities started coverage on Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. 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. According to MarketBeat, Vertiv currently has a consensus rating of "Moderate Buy" and an average price target of $126.69.

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.

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