Pursue Wealth Partners LLC Makes New $881,000 Investment in Vertiv Holdings Co. (NYSE:VRT)

Pursue Wealth Partners LLC purchased a new position in shares of Vertiv Holdings Co. (NYSE:VRT) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 12,202 shares of the company’s stock, valued at approximately $881,000.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its stake in Vertiv by 5.9% during the 4th quarter. D.A. Davidson & CO. now owns 4,784 shares of the company’s stock worth $544,000 after acquiring an additional 265 shares in the last quarter. Allianz Asset Management GmbH grew its position in Vertiv by 9.3% in the 4th quarter. Allianz Asset Management GmbH now owns 425,185 shares of the company’s stock valued at $48,305,000 after acquiring an additional 36,056 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in Vertiv during the fourth quarter worth about $324,000. Sigma Planning Corp increased its stake in Vertiv by 36.4% during the fourth quarter. Sigma Planning Corp now owns 25,480 shares of the company’s stock worth $2,895,000 after purchasing an additional 6,799 shares during the period. Finally, Tradewinds Capital Management LLC lifted its position in shares of Vertiv by 61.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 292 shares of the company’s stock worth $33,000 after purchasing an additional 111 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research reports. Wall Street Zen upgraded shares of Vertiv from a “buy” rating to a “strong-buy” rating in a report on Saturday. The Goldman Sachs Group boosted their price target on shares of Vertiv from $106.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. KGI Securities began coverage on Vertiv in a research report on Thursday, April 24th. They set a “hold” rating on the stock. Citigroup increased their price objective on Vertiv from $98.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Finally, Roth Mkm started coverage on Vertiv in a report on Tuesday, April 8th. They issued a “buy” rating and a $75.00 target price for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and a consensus target price of $126.69.

Vertiv Stock Down 0.3%

Shares of NYSE VRT opened at $118.69 on Monday. The business has a 50-day moving average of $99.40 and a two-hundred day moving average of $103.27. The company has a market capitalization of $45.23 billion, a price-to-earnings ratio of 69.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.73. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28.

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

Vertiv Increases Dividend

The business also recently disclosed 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. This represents a dividend yield of 0.14%. The ex-dividend date is Monday, June 16th. This is an increase from Vertiv’s previous dividend of $0.01. Vertiv’s payout ratio is currently 8.72%.

Insider Activity

In related news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president now directly owns 9,551 shares of the company’s stock, valued at approximately $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. Company insiders own 5.01% of the company’s stock.

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.