Elite Wealth Management Inc. Trims Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Elite Wealth Management Inc. trimmed its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 59.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,099 shares of the company's stock after selling 65,419 shares during the period. Vertiv comprises approximately 0.4% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 16th biggest position. Elite Wealth Management Inc.'s holdings in Vertiv were worth $3,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VRT. North Star Investment Management Corp. grew its holdings in Vertiv by 4,120.0% during the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after acquiring an additional 412 shares during the period. Colonial Trust Co SC grew its holdings in Vertiv by 211.9% during the 4th 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 period. Ameriflex Group Inc. acquired a new stake in Vertiv during the 4th quarter worth about $37,000. TD Private Client Wealth LLC grew its holdings in Vertiv by 37.5% during the 1st quarter. TD Private Client Wealth LLC now owns 510 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Vertiv during the 1st quarter worth about $43,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Up 1.2%

NYSE VRT traded up $1.52 during trading hours on Tuesday, hitting $126.24. The company's stock had a trading volume of 2,975,008 shares, compared to its average volume of 8,588,515. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The company's 50-day simple moving average is $113.46 and its two-hundred day simple moving average is $103.61. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $48.11 billion, a PE ratio of 73.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.94 billion. During the same quarter last year, the firm earned $0.43 EPS. The company'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 EPS for the current fiscal year.

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 18,847 shares of the company's stock, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertiv in a report on Friday. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research report on Tuesday, July 8th. Cowen reissued a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Morgan Stanley cut their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and increased their price objective for the stock from $134.00 to $165.00 in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Vertiv has an average rating of "Buy" and an average target price of $135.35.

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.