Ensign Peak Advisors Inc Boosts Holdings in Vertiv Holdings Co (NYSE:VRT)

Ensign Peak Advisors Inc boosted its position in Vertiv Holdings Co (NYSE:VRT) by 35.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,978 shares of the company’s stock after purchasing an additional 102,864 shares during the quarter. Ensign Peak Advisors Inc owned about 0.11% of Vertiv worth $34,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VRT. Bogart Wealth LLC purchased a new stake in shares of Vertiv during the 1st quarter valued at $25,000. Raleigh Capital Management Inc. raised its position in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after buying an additional 252 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Vertiv during the 1st quarter valued at $27,000. Mather Group LLC. raised its position in shares of Vertiv by 132.5% during the 2nd 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. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Vertiv during the 1st quarter valued at $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRT. Mizuho upgraded 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. TD Cowen raised their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group reduced their target price 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $102.13.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction 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 sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.

Vertiv Price Performance

VRT stock opened at $94.54 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The firm’s fifty day moving average is $79.49 and its 200 day moving average is $85.45. The firm has a market cap of $35.39 billion, a P/E ratio of 90.90, a P/E/G ratio of 1.08 and a beta of 1.58.

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, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. Research analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, September 17th. 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.