Hohimer Wealth Management LLC Acquires New Position in Vertiv Holdings Co. (NYSE:VRT)

Hohimer Wealth Management LLC purchased a new stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,493 shares of the company's stock, valued at approximately $541,000.

Other hedge funds have also recently bought and sold shares of the company. North Star Investment Management Corp. lifted its position in shares of 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 lifted 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 purchasing an additional 214 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Vertiv during the 4th quarter worth approximately $37,000. TD Private Client Wealth LLC lifted 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 purchasing an additional 139 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Vertiv during the 1st quarter worth approximately $43,000. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on VRT. Barclays lifted their price objective on Vertiv from $90.00 to $110.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Melius raised Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a report on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating on shares of Vertiv in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Melius Research raised Vertiv from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $134.00 to $165.00 in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv presently has an average rating of "Buy" and an average target price of $135.35.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction 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 directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction 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 $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. 5.01% of the stock is currently owned by company insiders.

Vertiv Price Performance

Vertiv stock traded up $2.77 during mid-day trading on Tuesday, hitting $127.49. The stock had a trading volume of 7,074,092 shares, compared to its average volume of 8,604,339. The firm has a market capitalization of $48.59 billion, a P/E ratio of 74.12, a P/E/G ratio of 1.23 and a beta of 1.75. 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 firm's 50 day moving average is $113.46 and its 200 day moving average is $103.61. 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 announced its quarterly 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. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. On average, sell-side analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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