Aristeia Capital L.L.C. Buys Shares of 7,583 Vertiv Holdings Co (NYSE:VRT)

Aristeia Capital L.L.C. purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,583 shares of the company’s stock, valued at approximately $656,000.

A number of other institutional investors also recently modified their holdings of VRT. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Vertiv by 60.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,495 shares of the company’s stock valued at $6,016,000 after buying an additional 26,231 shares in the last quarter. Gateway Advisory LLC bought a new position in shares of Vertiv in the second quarter worth about $603,000. Morse Asset Management Inc acquired a new stake in shares of Vertiv in the 2nd quarter valued at approximately $1,094,000. Xponance Inc. grew its holdings in shares of Vertiv by 101.8% during the 2nd quarter. Xponance Inc. now owns 63,703 shares of the company’s stock valued at $5,515,000 after purchasing an additional 32,129 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Vertiv by 41.0% during the 2nd quarter. Bank of Montreal Can now owns 156,531 shares of the company’s stock worth $14,365,000 after purchasing an additional 45,525 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. 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 report on Wednesday, August 7th. TD Cowen increased their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note 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 cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $102.13.

Vertiv Stock Performance

NYSE:VRT opened at $96.08 on Tuesday. 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 fifty-two week low of $34.60 and a fifty-two week high of $109.27. The company has a 50 day simple moving average of $79.65 and a two-hundred day simple moving average of $85.62. The company has a market capitalization of $35.97 billion, a PE ratio of 92.38, a P/E/G ratio of 1.08 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its quarterly earnings data 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 company 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%. Vertiv’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. Research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

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

About Vertiv

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.