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

Concurrent Investment Advisors LLC purchased a new stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,429 shares of the company's stock, valued at approximately $392,000.

Other large investors also recently modified their holdings of the company. Schroder Investment Management Group lifted its stake in shares of Vertiv by 95.3% in the 4th quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company's stock valued at $135,621,000 after acquiring an additional 569,722 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new stake in Vertiv in the fourth quarter valued at $415,000. Ibex Wealth Advisors increased its holdings in Vertiv by 10.5% in the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the period. Gallo Partners LP acquired a new stake in Vertiv in the fourth quarter valued at $1,826,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Vertiv in the fourth quarter valued at $597,379,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 owned 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 legal 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 shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the transaction, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRT has been the subject of a number of recent research reports. Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $134.00 to $165.00 in a report on Tuesday. KGI Securities initiated coverage on Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. The Goldman Sachs Group increased their price objective on Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $134.24.

Vertiv Stock Performance

Shares of VRT opened at $120.81 on Friday. 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 has a 50-day moving average of $112.29 and a 200-day moving average of $103.73. The company has a market cap of $46.04 billion, a PE ratio of 70.24, a P/E/G ratio of 1.28 and a beta of 1.75. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. On average, equities research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

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

Vertiv 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.