Creative Planning Purchases 2,004 Shares of Vertiv Holdings Co (NYSE:VRT)

Creative Planning boosted its position in Vertiv Holdings Co (NYSE:VRT) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,277 shares of the company’s stock after acquiring an additional 2,004 shares during the period. Creative Planning’s holdings in Vertiv were worth $3,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. increased 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 period. Atticus Wealth Management LLC purchased a new position in shares of Vertiv during the first quarter valued at approximately $27,000. Mather Group LLC. increased its stake in shares of 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 buying an additional 200 shares during the period. Hazlett Burt & Watson Inc. bought a new position in shares of Vertiv during the first quarter valued at approximately $34,000. Finally, OFI Invest Asset Management purchased a new stake in Vertiv in the second quarter worth $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of several research reports. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Evercore ISI reissued an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $102.13.

Vertiv Stock Performance

Shares of VRT opened at $105.20 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market cap of $39.38 billion, a P/E ratio of 101.15, a P/E/G ratio of 1.26 and a beta of 1.59. The business’s 50 day moving average price is $82.73 and its 200-day moving average price is $87.26. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 annualized dividend and a yield of 0.10%. Vertiv’s dividend payout ratio (DPR) is presently 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.