Procyon Advisors LLC Buys Shares of 5,422 Vertiv Holdings Co (NYSE:VRT)

Procyon Advisors LLC bought a new stake in Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,422 shares of the company’s stock, valued at approximately $539,000.

A number of other institutional investors also recently made changes to their positions in VRT. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 2nd quarter valued at approximately $331,091,000. Price T Rowe Associates Inc. MD raised its position in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Vertiv in the 1st quarter valued at approximately $135,987,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

VRT stock opened at $107.47 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 103.34, a PEG ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $113.43. The stock’s fifty day moving average is $87.74 and its two-hundred day moving average is $88.65.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations 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 period last year, the business posted $0.46 earnings per share. On average, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Analysts Set New Price Targets

VRT has been the subject of a number of research analyst reports. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Bank of America raised their price objective on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer raised their price objective on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group reduced their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Evercore ISI raised their price objective on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv has an average rating of “Buy” and an average target price of $110.44.

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.