KMG Fiduciary Partners LLC Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

KMG Fiduciary Partners LLC purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,749 shares of the company’s stock, valued at approximately $3,266,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after buying an additional 308,704 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after buying an additional 408,054 shares during the period. Jennison Associates LLC lifted its holdings in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Vertiv by 1.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after buying an additional 40,696 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Citigroup boosted their target price on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI boosted their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group initiated coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.92.

Vertiv Stock Performance

Shares of VRT stock opened at $132.78 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a fifty-two week low of $48.86 and a fifty-two week high of $145.67. The stock’s 50-day moving average is $125.65 and its two-hundred day moving average is $102.95. The firm has a market cap of $49.84 billion, a P/E ratio of 88.52, a PEG ratio of 0.99 and a beta of 1.63.

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

Vertiv Increases Dividend

The business also recently declared 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. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is 6.67%.

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.