Procyon Advisors LLC Has $1.07 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Procyon Advisors LLC boosted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 73.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,395 shares of the company’s stock after acquiring an additional 3,973 shares during the quarter. Procyon Advisors LLC’s holdings in Vertiv were worth $1,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRT. Silverleafe Capital Partners LLC acquired a new stake in shares of Vertiv during the 4th quarter worth about $4,219,000. Clearbridge Investments LLC grew its stake in 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 buying an additional 340,639 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares in the last quarter. Janney Capital Management LLC bought a new position in shares of Vertiv in the third quarter valued at approximately $8,403,000. Finally, Gordian Capital Singapore Pte Ltd boosted its holdings in shares of Vertiv by 112.5% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock worth $846,000 after acquiring an additional 4,500 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Trading Up 2.5 %

Shares of NYSE VRT opened at $135.94 on Friday. Vertiv Holdings Co has a fifty-two week low of $49.67 and a fifty-two week high of $145.67. The firm has a market capitalization of $51.02 billion, a P/E ratio of 90.63, a P/E/G ratio of 0.99 and a beta of 1.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company’s 50 day simple moving average is $125.86 and its 200 day simple moving average is $103.16.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction dated 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 in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 in the last ninety days. 5.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRT. The Goldman Sachs Group raised their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup raised their target price on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Barclays initiated coverage on shares of Vertiv in a research report on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price objective for the company. Finally, Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and a consensus price target of $141.75.

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.