Elite Wealth Management Inc. Makes New $10.08 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Elite Wealth Management Inc. purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 116,434 shares of the company’s stock, valued at approximately $10,080,000. Vertiv accounts for approximately 0.3% of Elite Wealth Management Inc.’s holdings, making the stock its 10th largest holding.

A number of other institutional investors also recently bought and sold shares of VRT. GAMMA Investing LLC raised its holdings in shares of Vertiv by 22.3% in the first quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock worth $53,000 after acquiring an additional 119 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Vertiv by 33.2% in the first quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock valued at $45,000 after purchasing an additional 137 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in 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. Farmers & Merchants Investments Inc. raised its stake in Vertiv by 66.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, Mather Group LLC. raised its stake in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VRT shares. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen upped their price objective on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of “Buy” and a consensus target price of $102.13.

Vertiv Trading Up 5.0 %

Shares of NYSE:VRT opened at $92.06 on Friday. The company has a 50-day simple moving average of $79.39 and a 200 day simple moving average of $85.09. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The company has a market capitalization of $34.46 billion, a P/E ratio of 88.52, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. Sell-side analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

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.