NewEdge Advisors LLC lowered its position in Vertiv Holdings Co. (NYSE:VRT – Free Report) by 25.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 119,374 shares of the company’s stock after selling 40,574 shares during the period. NewEdge Advisors LLC’s holdings in Vertiv were worth $29,913,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of VRT. Empowered Funds LLC boosted its position in Vertiv by 25.9% during the first quarter. Empowered Funds LLC now owns 11,557 shares of the company’s stock valued at $834,000 after acquiring an additional 2,377 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Vertiv in the 2nd quarter worth about $567,000. Cary Street Partners Financial LLC raised its position in shares of Vertiv by 19.8% in the 2nd quarter. Cary Street Partners Financial LLC now owns 1,390 shares of the company’s stock worth $178,000 after acquiring an additional 230 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Vertiv by 49.7% in the 2nd quarter. Bank of Nova Scotia now owns 29,239 shares of the company’s stock valued at $3,755,000 after purchasing an additional 9,712 shares during the period. Finally, Ossiam acquired a new position in shares of Vertiv in the 2nd quarter valued at about $50,000. 89.92% of the stock is owned by institutional investors.
Vertiv Trading Down 0.9%
VRT opened at $272.71 on Friday. The firm has a market capitalization of $104.75 billion, a PE ratio of 61.70, a P/E/G ratio of 1.13 and a beta of 2.06. Vertiv Holdings Co. has a fifty-two week low of $118.70 and a fifty-two week high of $379.93. The company’s 50-day moving average is $300.81 and its 200 day moving average is $280.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.38 and a quick ratio of 1.03.
Vertiv Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Vertiv’s dividend payout ratio (DPR) is presently 5.66%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on VRT shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vertiv in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on Vertiv from $305.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Loop Capital initiated coverage on shares of Vertiv in a research report on Thursday, May 14th. They set a “buy” rating and a $500.00 price objective for the company. UBS Group reiterated a “buy” rating and set a $370.00 target price on shares of Vertiv in a research report on Thursday, July 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $325.00 target price on shares of Vertiv in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $348.54.
About Vertiv
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.
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