Spire Wealth Management Buys 6,606 Shares of Vertiv Holdings Co (NYSE:VRT)

Spire Wealth Management grew its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 344.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,526 shares of the company’s stock after purchasing an additional 6,606 shares during the period. Spire Wealth Management’s holdings in Vertiv were worth $738,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of VRT. Bogart Wealth LLC bought a new stake in shares of Vertiv during the 1st quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of Vertiv during the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. boosted its stake in shares of Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Vertiv during the 1st quarter valued at about $27,000. Finally, Mather Group LLC. boosted its stake in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Up 3.9 %

Shares of Vertiv stock opened at $83.03 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $31.15 billion, a PE ratio of 79.84, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27. The company has a 50-day simple moving average of $81.94 and a two-hundred day simple moving average of $83.70.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. Vertiv’s payout ratio is 9.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VRT shares. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research report on Thursday, August 15th. The Goldman Sachs Group lowered their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Bank of America lifted their price target on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. TD Cowen lifted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $96.22.

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.