Vertiv Holdings Co (NYSE:VRT) Shares Bought by Grassi Investment Management

Grassi Investment Management grew its holdings in Vertiv Holdings Co (NYSE:VRT) by 294.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,900 shares of the company’s stock after purchasing an additional 35,750 shares during the quarter. Grassi Investment Management’s holdings in Vertiv were worth $3,458,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Empowered Funds LLC grew its holdings in Vertiv by 67.0% during the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock valued at $1,043,000 after buying an additional 3,682 shares during the last quarter. Sound View Wealth Advisors Group LLC acquired a new stake in shares of Vertiv during the fourth quarter valued at $1,218,000. Schroder Investment Management Group increased its position in Vertiv by 95.3% during the 4th quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company’s stock worth $135,621,000 after purchasing an additional 569,722 shares in the last quarter. Bedell Frazier Investment Counselling LLC purchased a new stake in Vertiv during the 4th quarter worth about $415,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Vertiv by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company’s stock valued at $198,376,000 after purchasing an additional 45,917 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

VRT stock opened at $112.87 on Thursday. The firm has a market cap of $43.02 billion, a P/E ratio of 88.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84. The stock has a 50-day simple moving average of $88.38 and a 200-day simple moving average of $105.12.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 24.2% on a year-over-year basis. On average, equities analysts predict that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. Vertiv’s dividend payout ratio is presently 8.72%.

Analyst Ratings Changes

VRT has been the topic of several analyst reports. Royal Bank of Canada assumed coverage on shares of Vertiv in a research note on Friday, March 7th. They set an “outperform” rating and a $121.00 price target on the stock. KGI Securities started coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a “hold” rating on the stock. Cowen reiterated a “buy” rating on shares of Vertiv in a report on Thursday, April 24th. Morgan Stanley reduced their price target on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their price objective on Vertiv from $135.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.38.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the sale, the insider now owns 18,847 shares of the company’s stock, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.63% of the company’s stock.

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.