PFG Investments LLC Grows Position in Vertiv Holdings Co. $VRT

PFG Investments LLC boosted its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 22.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,904 shares of the company’s stock after acquiring an additional 2,934 shares during the quarter. PFG Investments LLC’s holdings in Vertiv were worth $2,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Vertiv by 0.8% during the second quarter. Vanguard Group Inc. now owns 38,006,755 shares of the company’s stock worth $4,880,447,000 after acquiring an additional 291,596 shares during the last quarter. State Street Corp raised its position in Vertiv by 5.7% in the 2nd quarter. State Street Corp now owns 8,269,839 shares of the company’s stock valued at $1,061,930,000 after purchasing an additional 442,937 shares during the last quarter. Geode Capital Management LLC boosted its stake in Vertiv by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,686,778 shares of the company’s stock worth $856,082,000 after purchasing an additional 219,970 shares during the period. Invesco Ltd. grew its position in Vertiv by 20.9% during the 2nd quarter. Invesco Ltd. now owns 5,931,488 shares of the company’s stock worth $761,662,000 after purchasing an additional 1,024,634 shares during the last quarter. Finally, Norges Bank purchased a new position in Vertiv during the 2nd quarter worth $538,132,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of NYSE:VRT opened at $182.55 on Friday. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $202.45. The company has a 50-day moving average price of $170.74 and a 200 day moving average price of $156.87. The company has a market cap of $69.80 billion, a P/E ratio of 68.89, a PEG ratio of 1.09 and a beta of 2.06. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 22nd. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Vertiv had a return on equity of 50.82% and a net margin of 10.67%.The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Research analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 25th were issued a dividend of $0.0625 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s dividend payout ratio is currently 9.43%.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the sale, the executive vice president owned 4,050 shares of the company’s stock, valued at approximately $690,444. This trade represents a 57.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VRT. TD Cowen reaffirmed a “buy” rating and issued a $211.00 target price on shares of Vertiv in a report on Monday, December 1st. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Vertiv in a research report on Thursday, January 15th. Morgan Stanley increased their price objective on Vertiv from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Mizuho lifted their target price on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Oppenheimer boosted their target price on Vertiv from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $187.89.

About Vertiv

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.