Oppenheimer Asset Management Inc. Acquires 3,876 Shares of Vertiv Holdings Co (NYSE:VRT)

Oppenheimer Asset Management Inc. boosted its holdings in Vertiv Holdings Co (NYSE:VRT) by 57.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,616 shares of the company’s stock after buying an additional 3,876 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vertiv were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VRT. Bogart Wealth LLC bought a new position in Vertiv in the 1st quarter worth about $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the period. Atticus Wealth Management LLC bought a new stake in shares of Vertiv in the 1st quarter valued at about $27,000. Mather Group LLC. boosted its holdings in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. bought a new position in Vertiv during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of VRT opened at $92.06 on Friday. The company has a 50-day simple moving average of $79.39 and a two-hundred day simple moving average of $85.09. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a market capitalization of $34.46 billion, a PE ratio of 88.52, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a one year low of $34.60 and a one year high of $109.27.

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

Vertiv Announces Dividend

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

Analyst Ratings Changes

VRT has been the subject of a number of analyst reports. Evercore ISI reissued an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen upped their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average price target of $102.13.

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.