Procyon Advisors LLC Acquires 3,973 Shares of Vertiv Holdings Co (NYSE:VRT)

Procyon Advisors LLC raised its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 73.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,395 shares of the company's stock after buying an additional 3,973 shares during the quarter. Procyon Advisors LLC's holdings in Vertiv were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRT. KMG Fiduciary Partners LLC bought a new stake in Vertiv during the fourth quarter valued at $3,266,000. Bouvel Investment Partners LLC boosted its position in shares of Vertiv by 1.1% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,097 shares of the company's stock valued at $1,261,000 after acquiring an additional 117 shares during the last quarter. Capital Advisors Wealth Management LLC purchased a new position in shares of Vertiv during the fourth quarter worth about $209,000. Retireful LLC bought a new position in shares of Vertiv in the fourth quarter worth approximately $1,554,000. Finally, Carnegie Investment Counsel raised its stake in Vertiv by 28.2% in the fourth quarter. Carnegie Investment Counsel now owns 8,138 shares of the company's stock valued at $925,000 after purchasing an additional 1,790 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Trading Up 2.5 %

Shares of NYSE:VRT traded up $3.35 during trading on Friday, reaching $135.94. 4,912,411 shares of the company traded hands, compared to its average volume of 4,839,224. 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 Holdings Co has a 52-week low of $49.67 and a 52-week high of $145.67. The business's fifty day moving average is $126.07 and its 200-day moving average is $103.50. The firm has a market capitalization of $51.02 billion, a price-to-earnings ratio of 90.63, a P/E/G ratio of 0.99 and a beta of 1.63.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company's revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Wall Street Analyst Weigh In

VRT has been the subject of a number of research reports. Mizuho boosted their price target on shares of Vertiv from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Morgan Stanley assumed coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an "overweight" rating and a $150.00 target price for the company. UBS Group initiated coverage on Vertiv in a research note on Wednesday, November 13th. They issued a "buy" rating and a $155.00 target price on the stock. Evercore ISI dropped their price target on Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday. Finally, The Goldman Sachs Group increased their price objective on Vertiv from $126.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.75.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were 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 owns 19,551 shares in the company, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Van Dokkum sold 38,647 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the completion of the sale, the director now owns 25,000 shares of the company's stock, valued at $3,409,750. This trade represents a 60.72 % 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 worth $23,105,682 over the last quarter. 5.01% of the stock is owned by corporate insiders.

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.