Stonegate Investment Group LLC Takes $1.67 Million Position in Vertiv Holdings Co (NYSE:VRT)

Stonegate Investment Group LLC acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 16,779 shares of the company’s stock, valued at approximately $1,669,000.

Several other large investors have also recently bought and sold shares of VRT. Anchor Investment Management LLC acquired a new stake in shares of Vertiv in the 2nd quarter worth approximately $26,000. Atticus Wealth Management LLC acquired a new position in shares of Vertiv during the 1st quarter worth $27,000. Mather Group LLC. boosted its position in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Vertiv in the 3rd quarter valued at about $29,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction 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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade 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 accessible through the SEC website. 5.01% of the stock is owned by insiders.

Vertiv Stock Performance

Shares of VRT traded down $0.29 during mid-day trading on Friday, reaching $113.99. 905,024 shares of the company’s stock traded hands, compared to its average volume of 8,326,153. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $116.19. The stock has a market capitalization of $42.67 billion, a P/E ratio of 109.88, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business’s 50-day moving average price is $89.49 and its 200-day moving average price is $88.98. 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 released its quarterly 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. The company had revenue of $1.95 billion during 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 company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on VRT. Oppenheimer upped their target price on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Evercore ISI lifted their target price on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Jefferies Financial Group began coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Mizuho lifted their price objective on Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group cut their price target 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv presently has an average rating of “Buy” and a consensus target price of $112.44.

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.