Elm Partners Management LLC acquired a new position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 19,053 shares of the company’s stock, valued at approximately $2,447,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Presidio Capital Management LLC grew its stake in Vertiv by 1.3% during the 2nd quarter. Presidio Capital Management LLC now owns 6,010 shares of the company’s stock worth $772,000 after buying an additional 80 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its stake in Vertiv by 4.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 2,218 shares of the company’s stock worth $285,000 after buying an additional 86 shares during the last quarter. Grandview Asset Management LLC grew its stake in Vertiv by 2.8% during the 2nd quarter. Grandview Asset Management LLC now owns 3,536 shares of the company’s stock worth $454,000 after buying an additional 96 shares during the last quarter. Ameriflex Group Inc. grew its stake in Vertiv by 14.9% during the 2nd quarter. Ameriflex Group Inc. now owns 770 shares of the company’s stock worth $95,000 after buying an additional 100 shares during the last quarter. Finally, Avion Wealth grew its stake in Vertiv by 99.1% during the 2nd quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after buying an additional 106 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.
Vertiv Trading Down 0.6%
Shares of Vertiv stock opened at $192.55 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. The firm has a market cap of $73.53 billion, a price-to-earnings ratio of 72.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.84. The business has a fifty day simple moving average of $153.78 and a 200-day simple moving average of $128.80. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $202.45.
Vertiv Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were issued a $0.0375 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.15 annualized dividend and a dividend yield of 0.1%. Vertiv’s dividend payout ratio is 5.66%.
Wall Street Analyst Weigh In
VRT has been the subject of a number of recent research reports. Cowen set a $210.00 price objective on Vertiv in a research note on Thursday, October 23rd. Mizuho boosted their price target on Vertiv from $165.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings upgraded Vertiv from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Rothschild & Co Redburn began coverage on Vertiv in a research report on Wednesday, August 20th. They set a “neutral” rating and a $135.00 price target for the company. Finally, Glj Research began coverage on Vertiv in a research report on Tuesday, August 19th. They set a “sell” rating and a $112.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vertiv has an average rating of “Moderate Buy” and a consensus price target of $177.81.
Read Our Latest Stock Report on VRT
Insider Transactions at Vertiv
In other news, Director Steven Reinemund sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $128.22, for a total value of $12,822,000.00. Following the completion of the sale, the director owned 133,333 shares in the company, valued at $17,095,957.26. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Ryan sold 22,218 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $127.34, for a total value of $2,829,240.12. Following the completion of the sale, the insider owned 12,803 shares of the company’s stock, valued at approximately $1,630,334.02. This trade represents a 63.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 180,952 shares of company stock worth $23,360,571. Corporate insiders own 2.63% of the company’s stock.
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.
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