Ingalls & Snyder LLC Invests $255,000 in Vertiv Holdings Co (NYSE:VRT)

Ingalls & Snyder LLC acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,303 shares of the company’s stock, valued at approximately $255,000.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB purchased a new stake in shares of Vertiv during the fourth quarter worth $1,040,000. WT Asset Management Ltd purchased a new position in Vertiv in the fourth quarter valued at $24,486,000. CenterBook Partners LP increased its holdings in Vertiv by 82.0% in the third quarter. CenterBook Partners LP now owns 174,938 shares of the company’s stock valued at $6,508,000 after buying an additional 78,793 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Vertiv by 791.6% in the third quarter. Quadrature Capital Ltd now owns 92,628 shares of the company’s stock valued at $3,445,000 after buying an additional 82,239 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Vertiv by 244.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,984 shares of the company’s stock valued at $2,016,000 after buying an additional 29,804 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $83.89 on Monday. Vertiv Holdings Co has a fifty-two week low of $11.95 and a fifty-two week high of $88.69. The company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 71.09, a price-to-earnings-growth ratio of 1.35 and a beta of 1.59. The firm has a 50-day simple moving average of $72.45 and a 200-day simple moving average of $54.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.34 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were paid a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a yield of 0.12%. Vertiv’s payout ratio is currently 8.47%.

Analysts Set New Price Targets

VRT has been the topic of several recent analyst reports. Citigroup increased their target price on Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho increased their target price on Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Evercore ISI upped their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Bank of America upped their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.56.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by company insiders.

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.