Kovack Advisors Inc. Purchases Shares of 5,766 Vertiv Holdings Co (NYSE:VRT)

Kovack Advisors Inc. acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,766 shares of the company’s stock, valued at approximately $471,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Vertiv in the 4th quarter valued at approximately $185,339,000. Vanguard Group Inc. lifted its position in Vertiv by 12.1% in the third quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after purchasing an additional 3,417,710 shares during the period. Coatue Management LLC boosted its stake in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Vertiv in the 4th quarter valued at $43,037,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Vertiv in the 4th quarter valued at $33,960,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

NYSE VRT traded up $5.42 on Thursday, hitting $93.42. 7,859,609 shares of the company were exchanged, compared to its average volume of 9,976,985. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09. The company has a market cap of $34.97 billion, a P/E ratio of 89.70, a P/E/G ratio of 1.28 and a beta of 1.58. Vertiv Holdings Co has a 1-year low of $23.51 and a 1-year high of $109.27. The firm has a 50 day moving average of $94.62 and a two-hundred day moving average of $75.28.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. Vertiv’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Vertiv Holdings Co will post 2.43 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a dividend of $0.025 per share. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRT. The Goldman Sachs Group upped their target price on shares of Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Bank of America increased their target price on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup upped their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI lifted their price objective on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.11.

Insider Activity

In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $93.68, for a total transaction of $45,781,884.40. Following the completion of the sale, the director now directly owns 11,835,476 shares of the company’s stock, valued at approximately $1,108,747,391.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the completion of the sale, the executive vice president now directly owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Doherty Philip O’ sold 488,705 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.68, for a total value of $45,781,884.40. Following the completion of the transaction, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The disclosure for this sale can be found here. Insiders have sold 4,162,739 shares of company stock valued at $400,713,362 over the last 90 days. 5.01% of the stock is owned by company insiders.

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.