Vertiv Holdings Co (NYSE:VRT) Shares Bought by Grassi Investment Management

Grassi Investment Management lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 294.2% during the first quarter, Holdings Channel.com reports. The fund owned 47,900 shares of the company’s stock after purchasing an additional 35,750 shares during the period. Grassi Investment Management’s holdings in Vertiv were worth $3,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock valued at $4,130,415,000 after buying an additional 1,244,780 shares during the period. Geode Capital Management LLC lifted its holdings in Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company’s stock valued at $688,260,000 after acquiring an additional 99,181 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Vertiv during the 4th quarter valued at about $597,379,000. Wellington Management Group LLP grew its stake in shares of Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company’s stock worth $557,349,000 after purchasing an additional 990,361 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Vertiv by 4.8% in the 4th quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company’s stock worth $414,373,000 after purchasing an additional 167,061 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Trading Up 0.5%

Shares of NYSE:VRT opened at $112.87 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $43.02 billion, a PE ratio of 88.18, a P/E/G ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a 1 year low of $53.60 and a 1 year high of $155.84. The firm has a fifty day moving average price of $88.38 and a 200 day moving average price of $105.12.

Vertiv (NYSE:VRT) last announced 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 return on equity of 61.41% and a net margin of 6.19%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. Analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 8.72%.

Insider Activity

In related news, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price target on Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, May 16th. The Goldman Sachs Group cut their target price on Vertiv from $135.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Barclays decreased their price target on Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Morgan Stanley cut their price objective on Vertiv from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Cowen reaffirmed a “buy” rating on shares of Vertiv in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $122.38.

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.