Harmony Asset Management LLC Acquires New Position in Vertiv Holdings Co (NYSE:VRT)

Harmony Asset Management LLC acquired a new stake in shares of Vertiv Holdings Co (NYSE:VRT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,595 shares of the company’s stock, valued at approximately $258,000.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP boosted its holdings in Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after purchasing an additional 100 shares during the last quarter. NBC Securities Inc. boosted its holdings in Vertiv by 0.9% in the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after purchasing an additional 112 shares during the last quarter. Nvwm LLC boosted its holdings in Vertiv by 1.3% in the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after purchasing an additional 124 shares during the last quarter. Finally, Callan Family Office LLC boosted its holdings in Vertiv by 0.9% in the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. Insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $128.14 on Wednesday. Vertiv Holdings Co has a fifty-two week low of $43.66 and a fifty-two week high of $145.67. The firm’s 50 day moving average price is $116.11 and its 200 day moving average price is $96.69. The company has a market cap of $48.10 billion, a P/E ratio of 85.43, a PEG ratio of 1.31 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VRT shares. Oppenheimer boosted their target price on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup upped their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group started coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $138.50.

About Vertiv

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.