Prosperity Wealth Management Inc. Acquires 3,665 Shares of Vertiv Holdings Co. (NYSE:VRT)

Prosperity Wealth Management Inc. boosted its position in Vertiv Holdings Co. (NYSE:VRT) by 53.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,583 shares of the company’s stock after acquiring an additional 3,665 shares during the period. Prosperity Wealth Management Inc.’s holdings in Vertiv were worth $764,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC boosted its holdings in Vertiv by 2.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock valued at $420,000 after acquiring an additional 85 shares during the last quarter. Horizon Investment Services LLC boosted its holdings in Vertiv by 4.1% in the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock valued at $274,000 after acquiring an additional 95 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock valued at $367,000 after acquiring an additional 97 shares during the last quarter. Utah Retirement Systems boosted its holdings in Vertiv by 0.3% in the fourth quarter. Utah Retirement Systems now owns 39,300 shares of the company’s stock valued at $4,465,000 after acquiring an additional 100 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in Vertiv by 1.2% in the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company’s stock valued at $1,000,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president now directly owns 9,551 shares in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VRT shares. JPMorgan Chase & Co. raised their price target on Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Barclays decreased their price target on Vertiv from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Citigroup raised their target price on Vertiv from $98.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley reduced their target price on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group raised their target price on Vertiv from $106.00 to $122.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and a consensus target price of $126.69.

Vertiv Trading Up 0.3%

NYSE VRT opened at $116.79 on Wednesday. The firm has a market cap of $44.51 billion, a P/E ratio of 67.90, a P/E/G ratio of 1.21 and a beta of 1.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The stock’s 50-day moving average is $96.45 and its 200-day moving average is $103.69. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. Vertiv’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Sell-side analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.0375 per share. The ex-dividend date is Monday, June 16th. This represents a dividend yield of 0.14%. This is a positive change from Vertiv’s previous dividend of $0.01. Vertiv’s dividend payout ratio (DPR) is currently 8.72%.

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.