Vertiv Holdings Co (NYSE:VRT) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. lowered its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,108 shares of the company’s stock after selling 326 shares during the period. Vertiv accounts for approximately 1.6% of Elite Wealth Management Inc.’s portfolio, making the stock its 8th biggest holding. Elite Wealth Management Inc.’s holdings in Vertiv were worth $11,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the second quarter worth about $26,000. Mather Group LLC. boosted its position in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv in the third quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the third quarter worth approximately $30,000. Finally, Brooklyn Investment Group acquired a new position in Vertiv during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America lifted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, TD Cowen lifted their price target on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus target price of $138.50.

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 value 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 80.99 % 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. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,451 shares of company stock valued at $26,699,153. 5.01% of the stock is currently owned by company insiders.

Vertiv Stock Down 3.6 %

VRT stock opened at $126.96 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The firm has a fifty day moving average price of $113.52 and a two-hundred day moving average price of $95.89. The firm has a market cap of $47.65 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its 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. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

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.