Wedbush Securities Inc. Buys 1,939 Shares of Vertiv Holdings Co. (NYSE:VRT)

Wedbush Securities Inc. boosted its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,342 shares of the company's stock after purchasing an additional 1,939 shares during the period. Wedbush Securities Inc.'s holdings in Vertiv were worth $1,685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the fourth quarter valued at about $597,379,000. Norges Bank bought a new position in Vertiv during the fourth quarter valued at about $391,777,000. Arrowstreet Capital Limited Partnership raised its holdings in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after buying an additional 1,928,275 shares in the last quarter. Wellington Management Group LLP raised its holdings in Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after buying an additional 990,361 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Vertiv by 10,482.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 846,471 shares of the company's stock valued at $96,168,000 after buying an additional 838,472 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRT. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They set a "hold" rating on the stock. Roth Mkm assumed coverage on Vertiv in a report on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Evercore ISI reiterated an "outperform" rating on shares of Vertiv in a research note on Thursday, July 10th. Oppenheimer lifted their price objective on Vertiv from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Melius upgraded Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research note on Tuesday, July 8th. Three 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $136.76.

Vertiv Price Performance

NYSE VRT traded up $0.71 during trading on Thursday, reaching $130.90. 4,018,466 shares of the company traded hands, compared to its average volume of 6,871,038. 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 stock's 50 day moving average price is $117.96 and its two-hundred day moving average price is $104.28. The company has a market cap of $49.89 billion, a price-to-earnings ratio of 76.11, a P/E/G ratio of 1.29 and a beta of 1.75. Vertiv Holdings Co. has a 1-year low of $53.60 and a 1-year high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The company's quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In other news, 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 value of $518,815.00. Following the transaction, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president directly 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 owned by insiders.

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.