OFI Invest Asset Management Takes Position in Vertiv Holdings Co (NYSE:VRT)

OFI Invest Asset Management bought a new position in Vertiv Holdings Co (NYSE:VRT) in the 2nd quarter, HoldingsChannel reports. The fund bought 423 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Life Insurance Co. acquired a new stake in Vertiv during the 2nd quarter worth about $4,328,000. 1858 Wealth Management LLC boosted its holdings in shares of Vertiv by 26.4% during the second quarter. 1858 Wealth Management LLC now owns 20,875 shares of the company’s stock worth $1,807,000 after purchasing an additional 4,364 shares during the period. Petra Financial Advisors Inc. grew its position in Vertiv by 5.3% during the second quarter. Petra Financial Advisors Inc. now owns 8,268 shares of the company’s stock valued at $716,000 after purchasing an additional 416 shares in the last quarter. Insight Wealth Partners LLC acquired a new position in Vertiv in the 2nd quarter valued at approximately $240,000. Finally, Blue Trust Inc. lifted its position in Vertiv by 329.0% in the 2nd quarter. Blue Trust Inc. now owns 725 shares of the company’s stock worth $59,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Bank of America boosted their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Citigroup boosted their target price on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI restated an “outperform” rating and set a $105.00 price target on shares of Vertiv in a report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $96.22.

Vertiv Trading Down 4.3 %

Shares of VRT stock opened at $79.42 on Monday. The business’s 50 day moving average is $84.51 and its two-hundred day moving average is $82.48. The company has a quick ratio of 0.98, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a 12 month low of $32.38 and a 12 month high of $109.27. The company has a market cap of $29.73 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. Equities analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s payout ratio is presently 9.62%.

About Vertiv

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.