Oppenheimer Asset Management Inc. Buys 17,620 Shares of Vertiv Holdings Co (NYSE:VRT)

Oppenheimer Asset Management Inc. lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 166.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,236 shares of the company's stock after acquiring an additional 17,620 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Vertiv were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hartline Investment Corp lifted its holdings in Vertiv by 24.9% in the third quarter. Hartline Investment Corp now owns 260,689 shares of the company's stock valued at $25,936,000 after buying an additional 51,985 shares during the period. Victory Capital Management Inc. raised its position in shares of Vertiv by 14.1% in the 3rd quarter. Victory Capital Management Inc. now owns 411,511 shares of the company's stock worth $40,941,000 after acquiring an additional 50,763 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Vertiv by 12.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,821 shares of the company's stock valued at $778,000 after purchasing an additional 893 shares during the period. Rakuten Securities Inc. boosted its position in shares of Vertiv by 113.1% during the 3rd quarter. Rakuten Securities Inc. now owns 19,109 shares of the company's stock valued at $1,901,000 after purchasing an additional 10,141 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Vertiv by 13.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 849,809 shares of the company's stock worth $84,547,000 after purchasing an additional 102,042 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Down 0.1 %

NYSE VRT traded down $0.16 during trading hours on Friday, hitting $120.87. The company's stock had a trading volume of 6,154,995 shares, compared to its average volume of 6,357,558. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The company's 50-day simple moving average is $105.37 and its two-hundred day simple moving average is $93.68. The company has a market capitalization of $45.37 billion, a PE ratio of 80.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $130.30.

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

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. Vertiv's dividend payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho increased their price target on Vertiv from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They set a "buy" rating and a $125.00 target price on the stock. TD Cowen lifted their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, July 25th. Finally, Oppenheimer raised their target price on Vertiv from $115.00 to $121.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $125.40.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company's stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is owned by 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.