Parsons Capital Management Inc. RI Increases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Parsons Capital Management Inc. RI increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 36.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,736 shares of the company's stock after purchasing an additional 6,810 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Vertiv were worth $1,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its stake in shares of Vertiv by 61.3% in the 4th quarter. Tradewinds Capital Management LLC now owns 292 shares of the company's stock valued at $33,000 after buying an additional 111 shares during the period. Pittenger & Anderson Inc. lifted its stake in Vertiv by 92.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 313 shares of the company's stock worth $36,000 after purchasing an additional 150 shares during the last quarter. Colonial Trust Co SC lifted its stake in Vertiv by 211.9% during 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. purchased a new stake in Vertiv during the fourth quarter worth approximately $37,000. Finally, TD Private Client Wealth LLC lifted its stake in Vertiv by 150.7% during 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. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Price Performance

Shares of VRT stock traded down $3.72 during mid-day trading on Friday, reaching $110.78. The stock had a trading volume of 5,895,502 shares, compared to its average volume of 8,713,885. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84. The company has a market cap of $42.22 billion, a P/E ratio of 86.55, a price-to-earnings-growth ratio of 1.07 and a beta of 1.73. The business has a 50-day simple moving average of $94.49 and a 200 day simple moving average of $103.99. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19.

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

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider now directly owns 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 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 firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $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. Corporate insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

VRT has been the subject of several recent analyst reports. 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 note on Thursday, April 24th. Evercore ISI restated an "outperform" rating and set a $150.00 target price (up previously from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Royal Bank of Canada initiated coverage on Vertiv in a research note on Friday, March 7th. They set an "outperform" rating and a $121.00 target price for the company. Finally, Citigroup reduced their price objective on Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.69.

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.