SteelPeak Wealth LLC Raises Stock Position in Vertiv Holdings Co. (NYSE:VRT)

SteelPeak Wealth LLC grew its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 356.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,062 shares of the company's stock after buying an additional 24,253 shares during the period. SteelPeak Wealth LLC's holdings in Vertiv were worth $2,243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Xponance Inc. grew its stake in shares of Vertiv by 3.1% in the 1st quarter. Xponance Inc. now owns 70,843 shares of the company's stock worth $5,115,000 after buying an additional 2,160 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Vertiv by 249.9% during the 1st quarter. State of Michigan Retirement System now owns 239,300 shares of the company's stock worth $17,277,000 after purchasing an additional 170,900 shares during the period. Cerity Partners LLC boosted its stake in shares of Vertiv by 41.2% during the 1st quarter. Cerity Partners LLC now owns 68,670 shares of the company's stock worth $4,958,000 after purchasing an additional 20,048 shares during the period. Leavell Investment Management Inc. boosted its stake in shares of Vertiv by 35.1% during the 1st quarter. Leavell Investment Management Inc. now owns 3,330 shares of the company's stock worth $240,000 after purchasing an additional 865 shares during the period. Finally, LBP AM SA boosted its stake in shares of Vertiv by 76.8% during the 1st quarter. LBP AM SA now owns 864,352 shares of the company's stock worth $62,406,000 after purchasing an additional 375,510 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Up 2.2%

NYSE:VRT opened at $123.41 on Friday. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The firm has a market cap of $47.03 billion, a P/E ratio of 71.75, a P/E/G ratio of 1.20 and a beta of 1.75. The firm has a 50-day simple moving average of $112.86 and a 200-day simple moving average of $103.76.

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

Vertiv Increases Dividend

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

Insider Activity at Vertiv

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 in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on VRT shares. Citigroup lifted their price target on shares of Vertiv from $98.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Evercore ISI reaffirmed an "outperform" rating on shares of Vertiv in a research note on Thursday. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Wall Street Zen raised shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Finally, KGI Securities initiated coverage on shares of Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $134.24.

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.

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.