Sagespring Wealth Partners LLC bought a new position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,511 shares of the company’s stock, valued at approximately $322,000.
Other hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC acquired a new position in Vertiv in the second quarter valued at approximately $364,000. Naviter Wealth LLC acquired a new position in shares of Vertiv during the 2nd quarter valued at $294,000. Axxcess Wealth Management LLC boosted its stake in Vertiv by 80.4% during the second quarter. Axxcess Wealth Management LLC now owns 18,666 shares of the company’s stock worth $2,397,000 after acquiring an additional 8,319 shares in the last quarter. NorthRock Partners LLC acquired a new stake in Vertiv in the second quarter worth $227,000. Finally, Sequoia Financial Advisors LLC increased its stake in Vertiv by 34.1% in the second quarter. Sequoia Financial Advisors LLC now owns 10,394 shares of the company’s stock valued at $1,335,000 after purchasing an additional 2,643 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.
Vertiv Stock Performance
Shares of Vertiv stock opened at $174.11 on Friday. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $184.44. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $143.22 and a 200-day moving average price of $119.86. The company has a market cap of $66.49 billion, a PE ratio of 83.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.84.
Vertiv Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, September 15th. Vertiv’s dividend payout ratio is 7.18%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on VRT shares. Deutsche Bank Aktiengesellschaft set a $216.00 price objective on shares of Vertiv and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on Vertiv from $143.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Bank of America boosted their price objective on Vertiv from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Melius upgraded Vertiv from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, July 8th. Finally, UBS Group boosted their price target on shares of Vertiv from $135.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $160.30.
Insiders Place Their Bets
In related news, insider Karsten Winther sold 41,654 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $134.21, for a total value of $5,590,383.34. Following the sale, the insider directly owned 18,848 shares in the company, valued at approximately $2,529,590.08. The trade was a 68.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,680 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $123.92, for a total transaction of $1,943,065.60. Following the transaction, the director owned 4,631 shares of the company’s stock, valued at $573,873.52. This represents a 77.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,952 shares of company stock valued at $23,360,571. 2.63% of the stock is owned by company insiders.
Vertiv 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.
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