Quest Partners LLC Boosts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Quest Partners LLC increased its stake in Vertiv Holdings Co (NYSE:VRT) by 10,440.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,581 shares of the company’s stock after buying an additional 1,566 shares during the quarter. Quest Partners LLC’s holdings in Vertiv were worth $137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bogart Wealth LLC purchased a new position in Vertiv during the 1st quarter valued at about $25,000. Raleigh Capital Management Inc. grew its stake in Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after acquiring an additional 252 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Vertiv during the 1st quarter worth approximately $27,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new position in Vertiv in the 1st quarter valued at $34,000. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VRT shares. TD Cowen upped their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $102.13.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.01% of the stock is currently owned by insiders.

Vertiv Price Performance

VRT opened at $86.99 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $32.56 billion, a P/E ratio of 83.64, a PEG ratio of 1.08 and a beta of 1.58. The stock has a 50-day moving average price of $79.64 and a 200-day moving average price of $84.91. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s payout ratio is presently 9.62%.

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.