1832 Asset Management L.P. Has $3.21 Million Stock Position in Vertiv Holdings Co (NYSE:VRT)

1832 Asset Management L.P. lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 50.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 37,125 shares of the company’s stock after selling 37,375 shares during the period. 1832 Asset Management L.P.’s holdings in Vertiv were worth $3,214,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VRT. GAMMA Investing LLC boosted its holdings in Vertiv by 22.3% in the first quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock valued at $53,000 after acquiring an additional 119 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Vertiv by 33.2% in the 1st quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock worth $45,000 after purchasing an additional 137 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Vertiv by 66.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Mather Group LLC. raised its stake in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Finally, Merrion Investment Management Co LLC raised its stake in Vertiv by 0.7% during the second quarter. Merrion Investment Management Co LLC now owns 30,200 shares of the company’s stock worth $2,614,000 after buying an additional 200 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Trading Up 3.5 %

Shares of Vertiv stock opened at $100.77 on Thursday. The stock has a market capitalization of $37.80 billion, a PE ratio of 96.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The stock has a 50 day moving average price of $79.80 and a two-hundred day moving average price of $85.82. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 6.93% and a return on equity of 50.79%. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, equities analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.10%. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the firm’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 transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

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