QRG Capital Management Inc. Increases Stake in Vertiv Holdings Co. (NYSE:VRT)

QRG Capital Management Inc. lifted its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,702 shares of the company’s stock after acquiring an additional 1,477 shares during the period. QRG Capital Management Inc.’s holdings in Vertiv were worth $3,011,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Prestige Wealth Management Group LLC lifted its holdings in shares of Vertiv by 2.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company’s stock worth $420,000 after acquiring an additional 85 shares during the period. Horizon Investment Services LLC increased its position in Vertiv by 4.1% during the 4th quarter. Horizon Investment Services LLC now owns 2,410 shares of the company’s stock worth $274,000 after purchasing an additional 95 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its position in Vertiv by 3.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company’s stock worth $367,000 after purchasing an additional 97 shares in the last quarter. Utah Retirement Systems increased its position in Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company’s stock worth $4,465,000 after purchasing an additional 100 shares in the last quarter. Finally, Wahed Invest LLC increased its position in Vertiv by 1.2% during the 4th quarter. Wahed Invest LLC now owns 8,798 shares of the company’s stock worth $1,000,000 after purchasing an additional 105 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider now directly owns 18,847 shares in the company, valued at $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president now owns 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Vertiv in a research report on Friday, March 7th. They set an “outperform” rating and a $121.00 target price for the company. Roth Mkm assumed coverage on shares of Vertiv in a research report on Tuesday, April 8th. They set a “buy” rating and a $75.00 target price for the company. Cowen reissued a “buy” rating on shares of Vertiv in a research report on Thursday, April 24th. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a “hold” rating for the company. Finally, Roth Capital raised shares of Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.69.

Vertiv Stock Up 2.2%

VRT stock opened at $119.19 on Thursday. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $45.42 billion, a P/E ratio of 69.30, a PEG ratio of 1.21 and a beta of 1.73. The firm has a 50 day simple moving average of $97.38 and a 200-day simple moving average of $103.79.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 0.14%. This is an increase from Vertiv’s previous dividend of $0.01. Vertiv’s dividend payout ratio (DPR) is presently 8.72%.

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.