Golden State Wealth Management LLC Purchases 7,157 Shares of Vertiv Holdings Co. (NYSE:VRT)

Golden State Wealth Management LLC grew its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 181.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,100 shares of the company's stock after purchasing an additional 7,157 shares during the quarter. Golden State Wealth Management LLC's holdings in Vertiv were worth $801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VRT. Adams Diversified Equity Fund Inc. bought a new stake in Vertiv in the first quarter valued at about $4,780,000. Lecap Asset Management Ltd. grew its position in shares of Vertiv by 200.2% during the 1st quarter. Lecap Asset Management Ltd. now owns 33,197 shares of the company's stock worth $2,397,000 after buying an additional 22,137 shares during the period. S.A. Mason LLC increased its stake in shares of Vertiv by 999.6% in the 1st quarter. S.A. Mason LLC now owns 6,048 shares of the company's stock valued at $437,000 after acquiring an additional 5,498 shares during the last quarter. Global Assets Advisory LLC increased its stake in shares of Vertiv by 253.6% in the 1st quarter. Global Assets Advisory LLC now owns 6,000 shares of the company's stock valued at $422,000 after acquiring an additional 4,303 shares during the last quarter. Finally, Strategic Investment Advisors MI acquired a new stake in shares of Vertiv in the 1st quarter valued at approximately $493,000. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRT has been the subject of several recent analyst reports. Roth Mkm assumed coverage on shares of Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price for the company. Royal Bank Of Canada began coverage on shares of Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price target for the company. Morgan Stanley dropped their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Evercore ISI restated an "outperform" rating and issued a $150.00 price target (up from $100.00) on shares of Vertiv in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Vertiv presently has an average rating of "Moderate Buy" and an average target price of $126.69.

Vertiv Stock Up 3.0%

VRT stock traded up $3.68 during midday trading on Friday, hitting $127.48. The company's stock had a trading volume of 8,953,314 shares, compared to its average volume of 8,628,670. The company's fifty day moving average price is $103.31 and its 200 day moving average price is $103.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The stock has a market capitalization of $48.58 billion, a P/E ratio of 74.12, a PEG ratio of 1.22 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 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 quarter last year, the company posted $0.43 earnings per share. Vertiv's quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

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

Insiders Place Their Bets

In other Vertiv 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 sale, the executive vice president now directly owns 9,551 shares of the company's stock, 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 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 shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

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.