Prosperity Wealth Management Inc. Has $764,000 Position in Vertiv Holdings Co. (NYSE:VRT)

Prosperity Wealth Management Inc. increased its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 53.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,583 shares of the company's stock after purchasing an additional 3,665 shares during the quarter. Prosperity Wealth Management Inc.'s holdings in Vertiv were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRT. Empowered Funds LLC lifted its holdings in shares of Vertiv by 67.0% during the fourth quarter. Empowered Funds LLC now owns 9,180 shares of the company's stock worth $1,043,000 after buying an additional 3,682 shares during the last quarter. Sound View Wealth Advisors Group LLC acquired a new position in shares of Vertiv during the fourth quarter worth approximately $1,218,000. Schroder Investment Management Group lifted its holdings in shares of Vertiv by 95.3% during the fourth quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company's stock worth $135,621,000 after buying an additional 569,722 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new position in shares of Vertiv during the fourth quarter worth approximately $415,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Vertiv by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company's stock worth $198,376,000 after buying an additional 45,917 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Stock Performance

Vertiv stock opened at $116.79 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The stock has a fifty day moving average price of $96.45 and a two-hundred day moving average price of $103.69. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The firm has a market capitalization of $44.51 billion, a P/E ratio of 67.90, a P/E/G ratio of 1.21 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

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

Analyst Upgrades and Downgrades

VRT has been the subject of a number of research analyst reports. Citigroup upped their price target on Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a report on Monday. 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. Royal Bank Of Canada started coverage on Vertiv in a research note on Friday, March 7th. They issued an "outperform" rating and a $121.00 target price for the company. The Goldman Sachs Group upped their target price on Vertiv from $106.00 to $122.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Roth Capital upgraded Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Vertiv currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.69.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of the 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 now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $5,059,801.89. Following the sale, the executive vice president now owns 9,551 shares in the company, 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. Corporate insiders own 5.01% of the company's stock.

Vertiv Company 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.

Want to see what other hedge funds are holding VRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertiv Holdings Co. (NYSE:VRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.