Elite Wealth Management Inc. Takes $10.08 Million Position in Vertiv Holdings Co (NYSE:VRT)

Elite Wealth Management Inc. bought a new stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 116,434 shares of the company's stock, valued at approximately $10,080,000. Vertiv accounts for 0.3% of Elite Wealth Management Inc.'s portfolio, making the stock its 10th largest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company's stock worth $634,000 after purchasing an additional 9,870 shares during the period. California State Teachers Retirement System raised its stake in shares of Vertiv by 58.8% in the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company's stock worth $26,312,000 after buying an additional 202,766 shares during the period. Williamson Legacy Group LLC bought a new position in shares of Vertiv in the fourth quarter worth about $1,645,000. Quadrant Capital Group LLC lifted its position in shares of Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company's stock valued at $41,000 after buying an additional 170 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Vertiv by 1.3% during the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company's stock valued at $88,628,000 after acquiring an additional 14,100 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the 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 transaction, the insider now owns 10,542 shares of the company's stock, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRT. The Goldman Sachs Group dropped their price target on shares of Vertiv from $116.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of Vertiv from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Mizuho raised Vertiv from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $102.13.

Vertiv Price Performance

Shares of Vertiv stock traded up $2.49 during trading on Friday, reaching $94.55. 13,249,869 shares of the stock traded hands, compared to its average volume of 8,570,574. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market capitalization of $35.39 billion, a price-to-earnings ratio of 90.91, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27. The business has a fifty day simple moving average of $79.49 and a two-hundred day simple moving average of $85.25.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Sell-side analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv's dividend payout ratio (DPR) is currently 9.62%.

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.