Lake Street Advisors Group LLC Grows Position in Vertiv Holdings Co (NYSE:VRT)

Lake Street Advisors Group LLC increased its position in Vertiv Holdings Co (NYSE:VRT) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,596 shares of the company’s stock after buying an additional 459 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Vertiv were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of Vertiv during the second quarter valued at about $26,000. Atticus Wealth Management LLC bought a new stake in shares of Vertiv in the 1st quarter worth approximately $27,000. Mather Group LLC. raised its holdings in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Vertiv in the third quarter valued at $29,000. Finally, Global Trust Asset Management LLC purchased a new position in Vertiv during the 3rd quarter valued at $30,000. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VRT shares. Oppenheimer boosted their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen lifted their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group initiated coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Citigroup increased their price target on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Up 1.9 %

Shares of Vertiv stock opened at $112.17 on Friday. The company has a 50-day simple moving average of $93.57 and a two-hundred day simple moving average of $90.23. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $116.41. 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 $42.08 billion, a PE ratio of 87.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 7.81%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.