Envestnet Asset Management Inc. Acquires 38,822 Shares of Vertiv Holdings Co (NYSE:VRT)

Envestnet Asset Management Inc. raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,548 shares of the company’s stock after purchasing an additional 38,822 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Vertiv worth $30,520,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bogart Wealth LLC purchased a new stake in Vertiv in the 1st quarter valued at about $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares during the period. Atticus Wealth Management LLC bought a new position in Vertiv in the first quarter worth approximately $27,000. Mather Group LLC. grew its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new position in Vertiv during the 1st quarter worth $34,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.01% of the stock is owned by company insiders.

Vertiv Trading Up 2.7 %

Shares of NYSE:VRT opened at $94.55 on Friday. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27. The business’s fifty day simple moving average is $79.49 and its 200-day simple moving average is $85.25. The company has a market capitalization of $35.39 billion, a PE ratio of 90.91, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.46 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

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

Analyst Ratings Changes

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

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.