NovaPoint Capital LLC Acquires Shares of 8,937 Vertiv Holdings Co. (NYSE:VRT)

NovaPoint Capital LLC acquired a new stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,937 shares of the company's stock, valued at approximately $645,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VRT. Prestige Wealth Management Group LLC increased its holdings in shares of Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after buying an additional 85 shares during the last quarter. Horizon Investment Services LLC increased its holdings in shares of Vertiv by 4.1% in the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after buying an additional 95 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in shares of Vertiv by 3.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock worth $367,000 after buying an additional 97 shares during the last quarter. Utah Retirement Systems grew its holdings in Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after purchasing an additional 100 shares during the last quarter. Finally, Wahed Invest LLC grew its holdings in Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock valued at $1,000,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a report on Monday, June 16th. Roth Mkm started coverage on shares of Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price on the stock. Evercore ISI restated an "outperform" rating and issued a $150.00 target price (up from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating, thirteen 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 $126.69.

Vertiv Stock Up 2.4%

NYSE VRT traded up $3.02 on Thursday, hitting $127.35. 2,638,870 shares of the stock were exchanged, compared to its average volume of 8,533,420. The company has a 50-day moving average price of $107.55 and a 200-day moving average price of $103.42. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The company has a market cap of $48.54 billion, a PE ratio of 74.24, a PEG ratio of 1.22 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 7.92% and a return on equity of 56.01%. Vertiv's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Sell-side 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 was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a $0.0375 dividend. This represents a dividend yield of 0.14%. The ex-dividend date was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is currently 8.72%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of 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 transaction 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 stock in a transaction on Friday, June 6th. The stock was 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 directly owned 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

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.