Spirit of America Management Corp NY Has $845,000 Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Spirit of America Management Corp NY boosted its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 66.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,700 shares of the company's stock after purchasing an additional 4,650 shares during the period. Spirit of America Management Corp NY's holdings in Vertiv were worth $845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VRT. Massachusetts Financial Services Co. MA purchased a new position in shares of Vertiv during the 4th quarter valued at $597,379,000. Norges Bank acquired a new position in Vertiv in the 4th quarter worth about $391,777,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Vertiv by 136.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after purchasing an additional 1,928,275 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after buying an additional 990,361 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRT. Roth Capital upgraded shares of Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They set a "hold" rating on the stock. Cowen reissued a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Morgan Stanley decreased their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.69.

Vertiv Stock Performance

Shares of VRT stock traded down $0.39 during mid-day trading on Friday, reaching $118.69. The stock had a trading volume of 6,599,208 shares, compared to its average volume of 8,668,053. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The firm has a market cap of $45.23 billion, a PE ratio of 69.01, a P/E/G ratio of 1.20 and a beta of 1.73. The firm's 50 day simple moving average is $98.41 and its 200 day simple moving average is $103.74. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 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 analysts' expectations of $1.94 billion. During the same period last year, the business earned $0.43 earnings per share. Vertiv's quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In other Vertiv news, 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 transaction, the executive vice president now directly owns 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by insiders.

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.