Roanoke Asset Management Corp NY Takes $1.97 Million Position in Vertiv Holdings Co. $VRT

Key Points

• Roanoke Asset Management Corp NY purchased 27,240 shares of Vertiv Holdings Co. for approximately $1.97 million during the 1st quarter, contributing to a total of 89.92% of the company's stock owned by institutional investors.
• Analysts have raised their ratings for Vertiv, with Zacks giving it a "strong-buy" rating and several firms updating their target prices, the highest being $165.00.
• Vertiv recently increased its dividend to $0.0375 per share, significantly up from the previous $0.01, indicating a favorable financial outlook.

Roanoke Asset Management Corp NY purchased a new position in Vertiv Holdings Co. (NYSE:VRT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,240 shares of the company's stock, valued at approximately $1,967,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Vertiv by 3.7% in the first quarter. Vanguard Group Inc. now owns 37,715,159 shares of the company's stock worth $2,723,034,000 after acquiring an additional 1,359,070 shares during the period. Dimensional Fund Advisors LP raised its position in Vertiv by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,839,864 shares of the company's stock valued at $205,085,000 after purchasing an additional 182,937 shares during the period. Northern Trust Corp grew its holdings in Vertiv by 21.9% during the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock valued at $308,251,000 after purchasing an additional 487,909 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Vertiv by 54.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock worth $263,000,000 after purchasing an additional 812,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Vertiv by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock worth $240,051,000 after acquiring an additional 77,859 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Stock Up 0.3%

VRT traded up $0.34 during midday trading on Friday, reaching $132.86. The company's stock had a trading volume of 6,204,076 shares, compared to its average volume of 7,803,008. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The stock's 50-day moving average is $128.12 and its 200-day moving average is $105.09. The firm has a market capitalization of $50.74 billion, a price-to-earnings ratio of 63.57, a PEG ratio of 1.17 and a beta of 1.77. 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 (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.12. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.36 billion. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company's revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. As a group, research analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The firm 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. The ex-dividend date was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. This represents a dividend yield of 14.0%. Vertiv's dividend payout ratio (DPR) is presently 7.18%.

Insider Activity

In related news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the sale, the insider owned 18,848 shares in the company, valued at approximately $2,529,590.08. The trade was a 68.85% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on VRT shares. Bank of America lifted their price objective on shares of Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Melius upgraded Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on Vertiv from $127.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. William Blair started coverage on shares of Vertiv in a research report on Monday, July 28th. They set an "outperform" rating for the company. Finally, Royal Bank Of Canada increased their price target 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 investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $144.06.

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.