SeaCrest Wealth Management LLC Purchases 1,980 Shares of Vertiv Holdings Co (NYSE:VRT)

SeaCrest Wealth Management LLC lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,146 shares of the company’s stock after purchasing an additional 1,980 shares during the period. SeaCrest Wealth Management LLC’s holdings in Vertiv were worth $1,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VRT. PNC Financial Services Group Inc. lifted its position in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the period. Swiss National Bank increased its holdings in shares of Vertiv by 1.3% during the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after purchasing an additional 14,100 shares during the period. Acadian Asset Management LLC boosted its position in shares of Vertiv by 1,019.3% during the 1st quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after acquiring an additional 3,649 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Vertiv during the 1st quarter worth approximately $700,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insiders Place Their Bets

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 value of $3,593,470.76. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.01% of the company’s stock.

Vertiv Stock Up 2.1 %

VRT traded up $2.28 during midday trading on Wednesday, reaching $109.75. The company’s stock had a trading volume of 768,004 shares, compared to its average volume of 8,339,316. The stock’s 50-day moving average is $87.74 and its 200-day moving average is $88.65. 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 firm has a market capitalization of $41.08 billion, a price-to-earnings ratio of 103.34, a PEG ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $113.43.

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

Vertiv Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRT shares. Bank of America lifted their price target on shares of Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer boosted their target price on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. TD Cowen upped their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has an average rating of “Buy” and a consensus target price of $110.44.

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.