Bleakley Financial Group LLC Takes Position in Vertiv Holdings Co (NYSE:VRT)

Bleakley Financial Group LLC purchased a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,994 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TFC Financial Management Inc. bought a new position in shares of Vertiv during the 4th quarter valued at $42,000. Wakefield Asset Management LLLP bought a new position in Vertiv in the 4th quarter worth $3,246,000. Vaughan Nelson Investment Management L.P. bought a new position in Vertiv in the 4th quarter worth $43,037,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Vertiv by 33.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,706 shares of the company’s stock worth $706,000 after purchasing an additional 3,673 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Vertiv by 7,552.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 338,027 shares of the company’s stock worth $16,878,000 after purchasing an additional 333,610 shares during the period. 89.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

VRT has been the topic of a number of recent research reports. Mizuho raised their target price on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Evercore ISI raised their target price on Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer initiated coverage on Vertiv in a research note on Friday, April 5th. They issued an “outperform” rating and a $96.00 price target for the company. Finally, Citigroup increased their price target on Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.56.

Vertiv Stock Performance

Vertiv stock opened at $80.64 on Tuesday. The company has a 50 day moving average price of $72.83 and a 200-day moving average price of $54.94. 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 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 $30.80 billion, a PE ratio of 68.34, a P/E/G ratio of 1.35 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.34 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 8.47%.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction on Friday, March 8th. The stock was 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 currently owned by corporate insiders.

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.