Sovereign Financial Group Inc. Acquires New Stake in Vertiv Holdings Co (NYSE:VRT)

Sovereign Financial Group Inc. bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,688 shares of the company’s stock, valued at approximately $465,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in Vertiv during the fourth quarter worth about $26,000. Raleigh Capital Management Inc. boosted its holdings in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after purchasing an additional 252 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Vertiv in the fourth quarter valued at approximately $38,000. Quadrant Capital Group LLC increased its holdings in shares of Vertiv by 24.7% in the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the last quarter. Finally, TFC Financial Management Inc. purchased a new position in Vertiv during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRT. The Goldman Sachs Group raised their target price on Vertiv from $103.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Mizuho lifted their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Evercore ISI increased their price target on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Oppenheimer raised their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Citigroup upped their price objective on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.11.

Vertiv Stock Down 0.1 %

Vertiv stock opened at $86.88 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a 50 day moving average price of $93.71 and a 200 day moving average price of $73.87. Vertiv Holdings Co has a fifty-two week low of $23.07 and a fifty-two week high of $109.27. The company has a market capitalization of $32.52 billion, a PE ratio of 83.54, a price-to-earnings-growth ratio of 1.27 and a beta of 1.56.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the sale, the director now directly owns 9,324,181 shares in the company, valued at approximately $873,116,308.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $93.75, for a total value of $4,331,812.50. Following the completion of the transaction, the executive vice president now owns 23,003 shares in the company, valued at $2,156,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Doherty Philip O’ sold 2,511,295 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the transaction, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,162,739 shares of company stock worth $400,713,362. 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.