Bleakley Financial Group LLC Has $2.02 Million Stock Position in Vertiv Holdings Co (NYSE:VRT)

Bleakley Financial Group LLC increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,271 shares of the company’s stock after purchasing an additional 834 shares during the quarter. Bleakley Financial Group LLC’s holdings in Vertiv were worth $2,017,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in VRT. Anchor Investment Management LLC acquired a new stake in shares of Vertiv during the 2nd quarter worth about $26,000. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv during the 1st quarter worth about $27,000. Mather Group LLC. increased its position in Vertiv by 132.5% in the 2nd 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. Hazlett Burt & Watson Inc. acquired a new stake in Vertiv in the 1st quarter valued at about $34,000. Finally, OFI Invest Asset Management acquired a new stake in Vertiv in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by company insiders.

Vertiv Price Performance

Shares of VRT opened at $112.25 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The company’s fifty day simple moving average is $90.31 and its 200 day simple moving average is $89.26. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $116.19. The company has a market cap of $42.02 billion, a price-to-earnings ratio of 107.93, a PEG ratio of 1.42 and a beta of 1.59.

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

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s payout ratio is presently 9.62%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRT. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer lifted their price objective on shares of Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Mizuho lifted their price target on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Bank of America lifted their price objective on shares of Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $112.44.

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.