Bleakley Financial Group LLC Has $2.02 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Bleakley Financial Group LLC increased its position in Vertiv Holdings Co (NYSE:VRT) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,271 shares of the company’s stock after acquiring an additional 834 shares during the quarter. Bleakley Financial Group LLC’s holdings in Vertiv were worth $2,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors increased its stake in shares of Vertiv by 11.1% in the third quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $149,000 after buying an additional 150 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Vertiv by 627.2% during the 3rd quarter. Global Retirement Partners LLC now owns 15,627 shares of the company’s stock worth $1,555,000 after buying an additional 13,478 shares in the last quarter. Mezzasalma Advisors LLC boosted its holdings in shares of Vertiv by 78.2% during the 3rd quarter. Mezzasalma Advisors LLC now owns 16,063 shares of the company’s stock worth $1,598,000 after buying an additional 7,050 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of Vertiv by 55.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 13,022 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,668 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Vertiv by 709.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 97,523 shares of the company’s stock worth $9,703,000 after purchasing an additional 85,469 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Down 1.8 %

Shares of VRT opened at $112.25 on Friday. The firm has a market cap of $42.02 billion, a P/E ratio of 107.93, a P/E/G ratio of 1.42 and a beta of 1.59. The stock has a 50 day simple moving average of $90.31 and a two-hundred day simple moving average of $89.26. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $116.19.

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

Vertiv Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VRT shares. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Bank of America lifted their price objective on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Oppenheimer raised their target price on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv presently has an average rating of “Buy” and an average price target of $112.44.

Insider Buying and Selling at Vertiv

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 transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Vertiv Company 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.