Meridian Wealth Management LLC Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

Meridian Wealth Management LLC purchased a new stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,325 shares of the company's stock, valued at approximately $2,536,000.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System grew its holdings in shares of Vertiv by 19.9% during the 3rd quarter. New York State Teachers Retirement System now owns 31,278 shares of the company's stock valued at $3,112,000 after acquiring an additional 5,187 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Vertiv by 47.2% in the third quarter. First Trust Direct Indexing L.P. now owns 4,084 shares of the company's stock valued at $406,000 after purchasing an additional 1,310 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Vertiv in the third quarter valued at about $210,000. Focus Financial Network Inc. acquired a new position in Vertiv in the 3rd quarter worth about $314,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth about $652,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

Vertiv stock traded up $1.59 during mid-day trading on Wednesday, reaching $87.98. The company had a trading volume of 5,595,255 shares, compared to its average volume of 10,979,237. The company has a 50 day moving average of $117.05 and a 200-day moving average of $110.79. Vertiv Holdings Co has a 52 week low of $62.40 and a 52 week high of $155.84. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm has a market cap of $33.50 billion, a price-to-earnings ratio of 68.98, a PEG ratio of 1.07 and a beta of 1.71.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter last year, the business earned $0.56 EPS. On average, sell-side analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Fox Advisors assumed coverage on Vertiv in a report on Monday, January 6th. They issued an "equal weight" rating on the stock. TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Melius cut shares of Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a report on Tuesday, January 28th. Mizuho increased their target price 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. Finally, Evercore ISI reduced their price target on Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Vertiv has a consensus rating of "Moderate Buy" and an average target price of $137.14.

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.