Envestnet Asset Management Inc. Has $34.70 Million Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Envestnet Asset Management Inc. grew its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,639 shares of the company's stock after buying an additional 15,104 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Vertiv worth $34,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC increased its position in Vertiv by 211.9% in the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Vertiv in the fourth quarter worth about $37,000. TD Private Client Wealth LLC grew its holdings in shares of Vertiv by 150.7% in the fourth quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock worth $42,000 after purchasing an additional 223 shares during the last quarter. BNP Paribas purchased a new stake in Vertiv in the fourth quarter worth about $45,000. Finally, North Star Investment Management Corp. lifted its stake in Vertiv by 4,120.0% in the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after acquiring an additional 412 shares during the period. Institutional investors own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on VRT. Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and increased their price target for the company from $134.00 to $165.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup raised their price objective on Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a report on Monday. Mizuho set a $150.00 price target on Vertiv and gave the stock an "outperform" rating in a report on Wednesday. Finally, UBS Group reaffirmed a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. Three equities 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. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $135.65.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction 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 transaction, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Vertiv Stock Performance

NYSE:VRT traded down $2.12 during mid-day trading on Wednesday, hitting $125.25. 3,473,407 shares of the company's stock traded hands, compared to its average volume of 8,588,354. The firm has a 50 day moving average of $114.14 and a two-hundred day moving average of $103.78. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The firm has a market capitalization of $47.73 billion, a price-to-earnings ratio of 72.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.75. The company has a current ratio of 1.72, a quick ratio of 1.28 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm posted $0.43 EPS. Vertiv's quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. This represents a yield of 0.14%. This is a boost from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is currently 8.72%.

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.