Grassi Investment Management Purchases New Position in Vertiv Holdings Co (NYSE:VRT)

Grassi Investment Management purchased a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,150 shares of the company’s stock, valued at approximately $1,380,000.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new position in Vertiv during the 2nd quarter valued at about $26,000. Krane Funds Advisors LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 4.9 %

VRT stock traded down $6.30 during midday trading on Monday, hitting $122.63. The company’s stock had a trading volume of 5,221,720 shares, compared to its average volume of 6,261,009. The company has a market cap of $46.03 billion, a PE ratio of 81.75, a P/E/G ratio of 1.29 and a beta of 1.63. Vertiv Holdings Co has a 12 month low of $48.86 and a 12 month high of $145.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm’s 50-day moving average is $124.74 and its 200-day moving average is $102.19.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of research analyst reports. TD Cowen upped their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays initiated coverage on Vertiv in a report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. Oppenheimer upped their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and a consensus target price of $140.92.

Insider Activity

In other news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock valued at $23,105,682 in the last ninety days. 5.01% of the stock is currently owned by company insiders.

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.