Raymond James & Associates Grows Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Raymond James & Associates lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 624,173 shares of the company’s stock after purchasing an additional 81,434 shares during the quarter. Raymond James & Associates owned about 0.17% of Vertiv worth $62,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRT. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv in the 2nd quarter worth about $331,091,000. Price T Rowe Associates Inc. MD grew its holdings in Vertiv by 303.1% in the first 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 during the period. Vanguard Group Inc. increased its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP purchased a new position in Vertiv during the first quarter worth approximately $135,987,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Vertiv by 85.2% during 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 buying an additional 1,563,466 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRT. Bank of America increased their target price on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Oppenheimer boosted their target price on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. TD Cowen boosted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Mizuho increased their price objective on shares of Vertiv from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has a consensus rating of “Buy” and an average target price of $112.44.

Vertiv Stock Performance

Vertiv stock opened at $112.06 on Tuesday. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $116.19. 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 company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 107.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The firm’s fifty day moving average price is $91.09 and its 200 day moving average price is $89.51.

Vertiv (NYSE:VRT) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’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. On average, research analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given 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 payout ratio is currently 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

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.