Grassi Investment Management Purchases New Position in Vertiv Holdings Co (NYSE:VRT)

Grassi Investment Management purchased a new stake in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,150 shares of the company’s stock, valued at approximately $1,380,000.

A number of other institutional investors have also recently made changes to their positions in VRT. Acadian Asset Management LLC lifted its holdings in shares of Vertiv by 166.5% in the 2nd quarter. Acadian Asset Management LLC now owns 10,677 shares of the company’s stock valued at $922,000 after acquiring an additional 6,670 shares during the last quarter. Quest Partners LLC lifted its stake in Vertiv by 10,440.0% in the second quarter. Quest Partners LLC now owns 1,581 shares of the company’s stock worth $137,000 after purchasing an additional 1,566 shares during the last quarter. Choreo LLC bought a new stake in Vertiv in the second quarter worth about $631,000. Oppenheimer & Co. Inc. lifted its stake in Vertiv by 153.3% in the second quarter. Oppenheimer & Co. Inc. now owns 48,952 shares of the company’s stock worth $4,238,000 after purchasing an additional 29,623 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in Vertiv in the second quarter worth about $225,000. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Fox Advisors initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating on the stock. The Goldman Sachs Group boosted their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.92.

Vertiv Stock Down 4.9 %

NYSE:VRT traded down $6.30 during trading hours on Monday, reaching $122.63. The company’s stock had a trading volume of 5,221,720 shares, compared to its average volume of 6,261,009. The company has a market capitalization of $46.03 billion, a P/E ratio of 81.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63. Vertiv Holdings Co has a 12 month low of $48.86 and a 12 month high of $145.67. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The stock has a 50 day moving average price of $124.74 and a two-hundred day moving average price of $102.19.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Transactions at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 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.