Concurrent Investment Advisors LLC Invests $392,000 in Vertiv Holdings Co. (NYSE:VRT)

Concurrent Investment Advisors LLC purchased a new stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,429 shares of the company's stock, valued at approximately $392,000.

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

Analyst Upgrades and Downgrades

VRT has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $134.00 to $165.00 in a research report on Tuesday. KGI Securities initiated coverage on shares of Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. Wolfe Research reissued an "outperform" rating and set a $155.00 price target on shares of Vertiv in a report on Thursday. Finally, Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $134.24.

Vertiv Price Performance

VRT traded up $2.69 on Friday, reaching $123.41. 7,216,508 shares of the company's stock were exchanged, compared to its average volume of 8,625,329. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The stock has a market cap of $47.03 billion, a PE ratio of 71.75, a P/E/G ratio of 1.28 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The stock's fifty day moving average price is $112.29 and its 200-day moving average price is $103.73.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The business's revenue was up 24.2% compared to the same quarter last year. Sell-side analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is a boost from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is presently 8.72%.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm's 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 completion of the sale, the executive vice president owned 9,551 shares of the company's stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $518,815.00. Following the completion of the sale, the insider owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by 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.