Amalgamated Bank Raises Stock Position in Vertiv Holdings Co (NYSE:VRT)

Amalgamated Bank grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 18.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,195 shares of the company’s stock after buying an additional 3,734 shares during the quarter. Amalgamated Bank’s holdings in Vertiv were worth $2,095,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC bought a new stake in shares of Vertiv in the 1st quarter valued at approximately $25,000. Raleigh Capital Management Inc. lifted its position in Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in Vertiv during the first quarter worth $27,000. Mather Group LLC. increased its position 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 acquiring an additional 200 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Vertiv in the first quarter valued at $34,000. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of several analyst reports. 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. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average price target of $102.13.

Vertiv Stock Performance

Shares of Vertiv stock opened at $97.39 on Wednesday. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $109.27. The stock’s fifty day moving average price is $79.65 and its 200-day moving average price is $85.62. The firm has a market cap of $36.46 billion, a P/E ratio of 93.64, 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 for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders 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 yield of 0.10%. Vertiv’s dividend payout ratio is currently 9.62%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the company’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 of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv 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.