4,254 Shares in Vertiv Holdings Co (NYSE:VRT) Acquired by Provence Wealth Management Group

Provence Wealth Management Group purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,254 shares of the company’s stock, valued at approximately $204,000.

A number of other large investors have also added to or reduced their stakes in VRT. FMR LLC lifted its stake in Vertiv by 182.4% during the third quarter. FMR LLC now owns 47,236,496 shares of the company’s stock worth $1,757,198,000 after purchasing an additional 30,511,907 shares during the last quarter. Vanguard Group Inc. lifted its stake in Vertiv by 12.1% during the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after purchasing an additional 3,417,710 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Vertiv by 1,032.5% during the third quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock worth $84,031,000 after purchasing an additional 2,059,431 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Vertiv during the third quarter worth $69,482,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Vertiv by 2,223.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,801,467 shares of the company’s stock valued at $67,015,000 after acquiring an additional 1,723,936 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity

In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Insiders sold a total of 3,362,790 shares of company stock worth $306,451,347 in the last three months. Company insiders own 5.62% of the company’s stock.

Analysts Set New Price Targets

VRT has been the subject of a number of research reports. Evercore ISI increased their price target on Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Mizuho increased their price target on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Citigroup increased their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Bank of America increased their price target on Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.11.

Vertiv Trading Up 0.9 %

Vertiv stock traded up $0.84 during trading hours on Friday, reaching $93.01. 4,749,009 shares of the company’s stock were exchanged, compared to its average volume of 10,865,014. The company has a quick ratio of 1.35, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The firm’s 50 day simple moving average is $79.56 and its 200 day simple moving average is $59.26. Vertiv Holdings Co has a twelve month low of $14.27 and a twelve month high of $95.70. The firm has a market capitalization of $35.53 billion, a PE ratio of 89.43, a PEG ratio of 1.39 and a beta of 1.55.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. Research analysts predict that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s dividend payout ratio is presently 9.62%.

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.