Gateway Advisory LLC Makes New $603,000 Investment in Vertiv Holdings Co (NYSE:VRT)

Gateway Advisory LLC acquired a new stake in Vertiv Holdings Co (NYSE:VRT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,964 shares of the company’s stock, valued at approximately $603,000.

Several other institutional investors have also modified their holdings of VRT. Vanguard Group Inc. boosted its position in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares in the last quarter. Coatue Management LLC increased its stake in Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the second quarter worth approximately $331,091,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Up 1.6 %

Shares of VRT stock opened at $96.08 on Tuesday. The company has a market capitalization of $35.97 billion, a P/E ratio of 92.38, a price-to-earnings-growth 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. The business’s 50 day moving average is $79.65 and its two-hundred day moving average is $85.62. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company posted $0.46 EPS. Vertiv’s revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed 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 0.10%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Insiders Place Their Bets

In related 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. 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. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average target price 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.