Morse Asset Management Inc Invests $1.09 Million in Vertiv Holdings Co (NYSE:VRT)

Morse Asset Management Inc bought a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,635 shares of the company’s stock, valued at approximately $1,094,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bogart Wealth LLC bought a new position in Vertiv during the first quarter valued at $25,000. Raleigh Capital Management Inc. grew its holdings in 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 purchasing an additional 252 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in Vertiv in the 1st quarter worth about $27,000. Mather Group LLC. lifted 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 during the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Vertiv during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VRT shares. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. 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. Evercore ISI restated an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. Finally, TD Cowen lifted 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $102.13.

Vertiv Stock Performance

VRT stock opened at $94.54 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The business has a 50-day moving average price of $79.49 and a 200 day moving average price of $85.45. The company has a market capitalization of $35.39 billion, a P/E ratio of 90.90, a PEG 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 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. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

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.