Ashton Thomas Private Wealth LLC Buys 6,788 Shares of Vertiv Holdings Co. $VRT

Ashton Thomas Private Wealth LLC boosted its position in Vertiv Holdings Co. (NYSE:VRT) by 42.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,894 shares of the company’s stock after buying an additional 6,788 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Vertiv were worth $3,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRT. Financial Management Professionals Inc. raised its position in shares of Vertiv by 1,560.0% during the third quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares during the period. Pacer Advisors Inc. increased its stake in Vertiv by 67.6% during the 3rd quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. True Wealth Design LLC raised its holdings in Vertiv by 54.0% during the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock worth $29,000 after buying an additional 68 shares during the last quarter. Quent Capital LLC bought a new position in shares of Vertiv in the third quarter valued at $30,000. Finally, Promus Capital LLC acquired a new position in shares of Vertiv during the second quarter valued at about $26,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 2.7%

Shares of NYSE:VRT opened at $177.70 on Friday. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $202.45. The company has a market capitalization of $67.94 billion, a PE ratio of 67.06, a price-to-earnings-growth ratio of 1.12 and a beta of 2.08. The business has a fifty day moving average price of $174.34 and a two-hundred day moving average price of $160.47. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.43.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were given a $0.0625 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s payout ratio is presently 9.43%.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the completion of the transaction, the executive vice president directly owned 4,050 shares of the company’s stock, valued at $690,444. This represents a 57.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRT. TD Cowen restated a “buy” rating and issued a $211.00 target price on shares of Vertiv in a report on Monday, December 1st. UBS Group increased their price objective on Vertiv from $173.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Evercore ISI raised their target price on Vertiv from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, October 20th. JPMorgan Chase & Co. decreased their price target on Vertiv from $230.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Finally, Barclays raised Vertiv from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $181.00 to $200.00 in a research report on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.