NewEdge Advisors LLC Has $8.58 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

NewEdge Advisors LLC increased its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 24.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 99,090 shares of the company’s stock after acquiring an additional 19,647 shares during the period. NewEdge Advisors LLC’s holdings in Vertiv were worth $8,578,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares during the period. California State Teachers Retirement System grew its holdings in Vertiv by 58.8% in the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after buying an additional 202,766 shares during the last quarter. Williamson Legacy Group LLC bought a new position in Vertiv in the 4th quarter worth approximately $1,645,000. Swiss National Bank lifted its holdings in shares of Vertiv by 1.3% during the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after buying an additional 14,100 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Vertiv by 1,019.3% in the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock valued at $326,000 after acquiring an additional 3,649 shares during the period. 89.92% of the stock is owned by institutional investors.

Vertiv Trading Up 1.1 %

Shares of VRT opened at $99.49 on Tuesday. The stock has a 50 day simple moving average of $81.04 and a 200-day simple moving average of $86.61. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market cap of $37.24 billion, a PE ratio of 95.66, a PEG ratio of 1.26 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27.

Vertiv (NYSE:VRT) last posted its 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 net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. Vertiv’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. Vertiv’s dividend payout ratio is 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on VRT. Mizuho upgraded 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 note on Wednesday, August 7th. TD Cowen lifted their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Evercore ISI reissued an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.