Balboa Wealth Partners Raises Position in Vertiv Holdings Co (NYSE:VRT)

Balboa Wealth Partners boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 44.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,448 shares of the company’s stock after buying an additional 4,415 shares during the quarter. Balboa Wealth Partners’ holdings in Vertiv were worth $1,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC increased its holdings in shares of Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares during the last quarter. Janney Capital Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $8,403,000. Assenagon Asset Management S.A. increased its holdings in Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP increased its holdings in Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on VRT shares. The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Bank of America raised their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group began coverage on shares of Vertiv in a research report on Wednesday. They issued a “buy” rating and a $155.00 price target for the company. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $125.40.

Vertiv Stock Performance

Shares of NYSE VRT opened at $121.07 on Friday. The stock has a 50 day simple moving average of $103.47 and a 200-day simple moving average of $93.30. 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 has a market cap of $45.44 billion, a PE ratio of 80.71, a P/E/G ratio of 1.35 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $130.30.

Vertiv (NYSE:VRT) last issued its 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 analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.08%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

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.