Focus Financial Network Inc. Makes New $314,000 Investment in Vertiv Holdings Co (NYSE:VRT)

Focus Financial Network Inc. acquired a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,154 shares of the company’s stock, valued at approximately $314,000.

A number of other institutional investors have also made changes to their positions in VRT. US Bancorp DE grew its holdings in Vertiv by 212.2% during the third quarter. US Bancorp DE now owns 440,161 shares of the company’s stock valued at $43,792,000 after purchasing an additional 299,159 shares during the last quarter. Meitav Investment House Ltd. bought a new stake in shares of Vertiv during the 3rd quarter worth $37,309,000. Financial Advocates Investment Management acquired a new position in Vertiv in the 3rd quarter valued at $210,000. SteelPeak Wealth LLC raised its holdings in Vertiv by 265.9% in the 3rd quarter. SteelPeak Wealth LLC now owns 12,034 shares of the company’s stock worth $1,197,000 after acquiring an additional 8,745 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in Vertiv by 47.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,084 shares of the company’s stock worth $406,000 after acquiring an additional 1,310 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Price Performance

Vertiv stock opened at $106.90 on Monday. The business has a 50 day simple moving average of $96.92 and a 200 day simple moving average of $91.26. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.00. The company has a market capitalization of $40.12 billion, a PE ratio of 71.27, a price-to-earnings-growth ratio of 1.19 and a beta of 1.58. Vertiv Holdings Co has a one year low of $38.68 and a one year high of $116.41.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company earned $0.52 EPS. Vertiv’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s payout ratio is 6.67%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on 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 owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is owned by insiders.

Analysts Set New Price Targets

VRT has been the topic of several research analyst reports. Citigroup raised their price target on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Mizuho raised their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. TD Cowen raised their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI upped their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $122.11.

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.