Vertiv Holdings Co. (NYSE:VRT) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Vertiv Holdings Co. by 48%, owning 6,655 shares valued at approximately $480,000.
• Vertiv reported earnings of $0.95 EPS for the last quarter, surpassing estimates and showing a 35.1% revenue increase from the previous year.
• The company has recently raised its dividend to $0.0375, up from $0.01, reflecting a yield of 14.0% and signifying a commitment to returning value to shareholders.

HB Wealth Management LLC boosted its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 48.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,655 shares of the company's stock after buying an additional 2,157 shares during the quarter. HB Wealth Management LLC's holdings in Vertiv were worth $480,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of VRT. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the fourth quarter worth approximately $597,379,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Vertiv by 54.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock valued at $263,000,000 after acquiring an additional 812,389 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Vertiv by 61.7% during the 4th quarter. Federated Hermes Inc. now owns 1,874,256 shares of the company's stock worth $212,946,000 after purchasing an additional 715,212 shares during the period. Northern Trust Corp boosted its holdings in shares of Vertiv by 21.9% during the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after purchasing an additional 487,909 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in shares of Vertiv by 370.7% in the fourth quarter. Voloridge Investment Management LLC now owns 607,384 shares of the company's stock valued at $69,005,000 after purchasing an additional 478,350 shares during the period. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 9,551 shares of the company's stock, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays set a $128.00 target price on Vertiv and gave the stock an "equal weight" rating in a research report on Thursday. Oppenheimer increased their price objective on shares of Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday, April 24th. They issued a "hold" rating on the stock. Royal Bank Of Canada boosted their target price on shares of Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from $134.00 to $165.00 in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and a consensus price target of $144.06.

Vertiv Stock Down 2.7%

Shares of NYSE VRT traded down $3.94 on Friday, hitting $141.66. The company had a trading volume of 10,317,134 shares, compared to its average volume of 8,340,559. The company has a quick ratio of 1.28, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84. The firm has a market capitalization of $53.99 billion, a P/E ratio of 67.78, a PEG ratio of 1.36 and a beta of 1.77. The business has a 50 day moving average of $121.71 and a two-hundred day moving average of $104.78.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $0.67 EPS. Vertiv's revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 14.0%. Vertiv's payout ratio is presently 7.18%.

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.