Grassi Investment Management Purchases 35,750 Shares of Vertiv Holdings Co (NYSE:VRT)

Grassi Investment Management boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 294.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,900 shares of the company's stock after acquiring an additional 35,750 shares during the quarter. Grassi Investment Management's holdings in Vertiv were worth $3,458,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC raised its holdings in shares of Vertiv by 2.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock valued at $420,000 after purchasing an additional 85 shares in the last quarter. Horizon Investment Services LLC increased its position in Vertiv by 4.1% during the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after buying an additional 95 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in Vertiv by 3.1% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after buying an additional 97 shares in the last quarter. Utah Retirement Systems lifted its position in shares of Vertiv by 0.3% in the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock worth $4,465,000 after buying an additional 100 shares during the last quarter. Finally, Wahed Invest LLC boosted its stake in shares of Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock worth $1,000,000 after acquiring an additional 105 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRT. Evercore ISI reissued an "outperform" rating and issued a $150.00 price objective (up from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Barclays reduced their price objective on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Cowen reiterated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group cut their target price on shares of Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $122.38.

Vertiv Stock Performance

Shares of VRT stock traded up $3.25 during mid-day trading on Friday, reaching $115.47. The stock had a trading volume of 5,366,591 shares, compared to its average volume of 8,820,249. The firm has a market cap of $44.01 billion, a PE ratio of 90.21, a P/E/G ratio of 1.07 and a beta of 1.70. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a one year low of $53.60 and a one year high of $155.84. The firm's 50 day simple moving average is $89.18 and its 200 day simple moving average is $105.04.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The business's revenue was up 24.2% on a year-over-year basis. On average, analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.

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.