Perigon Wealth Management LLC Boosts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Perigon Wealth Management LLC boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,166 shares of the company’s stock after acquiring an additional 1,619 shares during the quarter. Perigon Wealth Management LLC’s holdings in Vertiv were worth $2,632,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Vertiv by 55.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,523 shares of the company’s stock valued at $2,642,000 after buying an additional 10,884 shares in the last quarter. Creative Planning boosted its stake in shares of Vertiv by 5.8% in the second quarter. Creative Planning now owns 36,277 shares of the company’s stock worth $3,140,000 after buying an additional 2,004 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Vertiv by 238.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,810 shares of the company’s stock worth $1,542,000 after purchasing an additional 12,546 shares in the last quarter. Quarry LP purchased a new position in Vertiv during the second quarter worth approximately $57,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Vertiv during the second quarter worth approximately $475,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent research reports. TD Cowen increased their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley began coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target for the company. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Tuesday. UBS Group began coverage on Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Price Performance

Shares of VRT opened at $110.70 on Thursday. Vertiv Holdings Co has a twelve month low of $55.00 and a twelve month high of $155.84. The stock’s 50 day moving average is $127.16 and its two-hundred day moving average is $105.72. The firm has a market capitalization of $41.55 billion, a PE ratio of 73.80, a P/E/G ratio of 1.16 and a beta of 1.63. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by corporate insiders.

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.