Envestnet Portfolio Solutions Inc. Purchases 2,465 Shares of Vertiv Holdings Co. (NYSE:VRT)

Envestnet Portfolio Solutions Inc. lifted its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,293 shares of the company's stock after buying an additional 2,465 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Vertiv were worth $6,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Principal Securities Inc. boosted its position in Vertiv by 71.1% in the fourth quarter. Principal Securities Inc. now owns 5,128 shares of the company's stock worth $583,000 after purchasing an additional 2,131 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Vertiv by 13.5% in the 4th quarter. CIBC Asset Management Inc now owns 15,279 shares of the company's stock worth $1,736,000 after purchasing an additional 1,818 shares during the period. Truist Financial Corp boosted its holdings in shares of Vertiv by 51.2% in the fourth quarter. Truist Financial Corp now owns 66,578 shares of the company's stock worth $7,564,000 after buying an additional 22,544 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Vertiv by 5.9% in the fourth quarter. D.A. Davidson & CO. now owns 4,784 shares of the company's stock worth $544,000 after buying an additional 265 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Vertiv by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 17,820 shares of the company's stock valued at $2,025,000 after buying an additional 2,193 shares during the period. Institutional investors own 89.92% of the company's stock.

Insider Activity

In other news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the transaction, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the business'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 value of $5,059,801.89. Following the transaction, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $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 2.63% of the company's stock.

Analyst Ratings Changes

VRT has been the topic of several analyst reports. KGI Securities initiated coverage on shares of Vertiv in a research note on Thursday, April 24th. They set a "hold" rating on the stock. Barclays decreased their target price on Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Cowen reissued a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Roth Capital raised Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Finally, The Goldman Sachs Group lifted their price objective on Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Five equities 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, the company presently has an average rating of "Moderate Buy" and an average target price of $126.69.

Vertiv Price Performance

VRT stock opened at $118.69 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The company's fifty day moving average price is $99.40 and its 200-day moving average price is $103.67. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The company has a market capitalization of $45.23 billion, a PE ratio of 69.01, a price-to-earnings-growth ratio of 1.20 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last announced 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 net margin of 7.92% and a return on equity of 56.01%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.43 EPS. Vertiv's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.0375 per share. This represents a dividend yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date is Monday, June 16th. Vertiv's dividend payout ratio is 8.72%.

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.

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