Wellington Shields Capital Management LLC Invests $5.19 Million in Vertiv Holdings Co (NYSE:VRT)

Wellington Shields Capital Management LLC acquired a new position in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 45,644 shares of the company’s stock, valued at approximately $5,186,000.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Vertiv by 430.5% in the 3rd quarter. Principal Financial Group Inc. now owns 165,557 shares of the company’s stock valued at $16,471,000 after purchasing an additional 134,349 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Vertiv by 45.6% in the third quarter. Atria Investments Inc now owns 16,690 shares of the company’s stock worth $1,660,000 after buying an additional 5,225 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Vertiv by 5.6% in the third quarter. Crossmark Global Holdings Inc. now owns 2,950 shares of the company’s stock worth $293,000 after buying an additional 156 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Vertiv by 71.8% during the third quarter. Apollon Wealth Management LLC now owns 9,894 shares of the company’s stock worth $984,000 after buying an additional 4,135 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Vertiv by 13.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 849,809 shares of the company’s stock valued at $84,547,000 after buying an additional 102,042 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Down 2.3 %

VRT stock opened at $83.46 on Friday. Vertiv Holdings Co has a 52-week low of $62.40 and a 52-week high of $155.84. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm has a market cap of $31.78 billion, a P/E ratio of 65.20, a PEG ratio of 1.07 and a beta of 1.71. The company’s 50-day simple moving average is $112.45 and its 200-day simple moving average is $110.61.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, equities analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 18th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, March 18th. Vertiv’s payout ratio is presently 11.72%.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research reports. Oppenheimer lifted their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Mizuho lifted their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Evercore ISI cut their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. TD Cowen lifted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Fox Advisors initiated coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.07.

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.