Oak Grove Capital LLC Raises Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Oak Grove Capital LLC increased its position in Vertiv Holdings Co. by 25.4%, owning a total of 86,755 shares valued at approximately $6,264,000 as of the latest quarter.
• In recent analyst ratings, Roth Capital raised its target price for Vertiv from $100.00 to $157.00, while Royal Bank Of Canada increased theirs from $143.00 to $162.00, highlighting a strong overall demand for the stock.
• Vertiv reported a 35.1% year-over-year revenue increase of $2.64 billion in its latest earnings, surpassing analysts' expectations, and also declared a dividend increase to $0.0375 per share.

Oak Grove Capital LLC boosted its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,755 shares of the company's stock after purchasing an additional 17,575 shares during the period. Vertiv makes up 1.3% of Oak Grove Capital LLC's holdings, making the stock its 17th biggest holding. Oak Grove Capital LLC's holdings in Vertiv were worth $6,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Ibex Wealth Advisors boosted its stake in Vertiv by 10.5% during the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock worth $5,324,000 after buying an additional 6,989 shares during the period. Gallo Partners LP purchased a new position in Vertiv during the fourth quarter worth about $1,826,000. Viking Fund Management LLC boosted its stake in Vertiv by 123.5% during the first quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock worth $2,744,000 after buying an additional 21,000 shares during the period. Outlook Wealth Advisors LLC purchased a new position in Vertiv during the first quarter worth about $475,000. Finally, FengHe Fund Management Pte. Ltd. purchased a new position in Vertiv during the first quarter worth about $33,389,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on VRT. Roth Capital increased their target price on shares of Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Barclays set a $128.00 price objective on shares of Vertiv and gave the company an "equal weight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reissued a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. Finally, Royal Bank Of Canada raised their price objective on shares of Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.06.

Insider Buying and Selling

In other news, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total value of $5,590,383.34. Following the transaction, the insider directly owned 18,848 shares of the company's stock, valued at $2,529,590.08. The trade was a 68.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $5,059,801.89. Following the completion of the transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Vertiv Stock Down 3.6%

VRT stock opened at $132.45 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The company's 50 day moving average is $127.77 and its two-hundred day moving average is $105.01. The stock has a market cap of $50.58 billion, a P/E ratio of 63.37, a PEG ratio of 1.21 and a beta of 1.77.

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

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Vertiv's previous dividend of $0.01. This represents a yield of 14.0%. Vertiv's dividend payout ratio is 7.18%.

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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