EverSource Wealth Advisors LLC Has $196,000 Stock Position in Vertiv Holdings Co (NYSE:VRT)

EverSource Wealth Advisors LLC reduced its holdings in Vertiv Holdings Co (NYSE:VRT) by 51.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,261 shares of the company’s stock after selling 2,349 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Vertiv were worth $196,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VRT. Bogart Wealth LLC bought a new stake in shares of Vertiv in the 1st quarter valued at $25,000. Raleigh Capital Management Inc. increased its stake in Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the first quarter valued at about $27,000. Mather Group LLC. raised its holdings in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Vertiv during the 1st quarter worth about $34,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Vertiv Price Performance

Shares of NYSE:VRT opened at $100.77 on Thursday. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. 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 cap 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. The stock’s fifty day simple moving average is $79.80 and its two-hundred day simple moving average is $85.82.

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

Vertiv Dividend Announcement

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

Insider Buying and Selling

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 value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

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.