Smith Salley Wealth Management Makes New $1.41 Million Investment in Vertiv Holdings Co. (NYSE:VRT)

Smith Salley Wealth Management acquired a new position in Vertiv Holdings Co. (NYSE:VRT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,589 shares of the company's stock, valued at approximately $1,414,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its position in Vertiv by 67.7% in the 4th quarter. Private Trust Co. NA now owns 3,693 shares of the company's stock valued at $420,000 after buying an additional 1,491 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Vertiv by 7.1% in the fourth quarter. Metis Global Partners LLC now owns 4,931 shares of the company's stock valued at $560,000 after purchasing an additional 329 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Vertiv by 91.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,240 shares of the company's stock valued at $144,000 after purchasing an additional 592 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Vertiv by 511.2% during the fourth quarter. Jones Financial Companies Lllp now owns 71,421 shares of the company's stock valued at $8,114,000 after purchasing an additional 59,735 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Vertiv during the fourth quarter worth about $1,429,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on VRT shares. Roth Mkm assumed coverage on shares of Vertiv in a research report on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Morgan Stanley decreased their price target on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Barclays reduced their price objective on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Finally, Citigroup lifted their target price on Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.69.

Vertiv Stock Performance

NYSE:VRT traded down $5.87 on Tuesday, reaching $122.54. 8,720,512 shares of the company's stock were exchanged, compared to its average volume of 8,564,393. The firm has a market cap of $46.70 billion, a price-to-earnings ratio of 71.24, a P/E/G ratio of 1.28 and a beta of 1.73. 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 simple moving average of $105.61 and a 200-day simple moving average of $103.14. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84.

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

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date was Monday, June 16th. This represents a yield of 0.14%. This is an increase from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider owned 18,847 shares of the company's stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.01% 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.