Vertiv Holdings Co (NYSE:VRT) Stake Increased by Deepwater Asset Management LLC

Deepwater Asset Management LLC grew its position in Vertiv Holdings Co (NYSE:VRT) by 734.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 162,651 shares of the company’s stock after buying an additional 143,161 shares during the period. Vertiv makes up about 5.1% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Deepwater Asset Management LLC’s holdings in Vertiv were worth $14,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRT. Frank Rimerman Advisors LLC purchased a new position in Vertiv in the 2nd quarter worth approximately $282,000. Avalon Global Asset Management LLC increased its holdings in shares of Vertiv by 80.0% in the 2nd quarter. Avalon Global Asset Management LLC now owns 45,000 shares of the company’s stock worth $3,896,000 after purchasing an additional 20,000 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Vertiv by 35.0% in the second quarter. Ensign Peak Advisors Inc now owns 396,978 shares of the company’s stock worth $34,366,000 after purchasing an additional 102,864 shares during the last quarter. Elite Wealth Management Inc. bought a new position in shares of Vertiv during the second quarter valued at $10,080,000. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Vertiv during the second quarter valued at $232,000. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Vertiv Trading Up 2.7 %

Shares of Vertiv stock opened at $94.54 on Friday. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The company’s fifty day simple moving average is $79.49 and its 200-day simple moving average is $85.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a market capitalization of $35.39 billion, a PE ratio of 90.90, a P/E/G ratio of 1.08 and a beta of 1.58.

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

Vertiv Announces Dividend

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