Merrion Investment Management Co LLC Has $2.99 Million Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Merrion Investment Management Co LLC decreased its stake in Vertiv Holdings Co (NYSE:VRT) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the company’s stock after selling 200 shares during the period. Vertiv accounts for about 2.0% of Merrion Investment Management Co LLC’s holdings, making the stock its 13th biggest holding. Merrion Investment Management Co LLC’s holdings in Vertiv were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after purchasing an additional 9,870 shares during the period. Clearbridge Investments LLC grew its stake in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the period. Swiss National Bank grew its stake in Vertiv by 1.3% during the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after purchasing an additional 14,100 shares during the period. Acadian Asset Management LLC grew its stake in Vertiv by 1,019.3% during the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after purchasing an additional 3,649 shares during the period. Finally, J.W. Cole Advisors Inc. acquired a new stake in Vertiv during the first quarter worth approximately $700,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Down 0.6 %

VRT stock opened at $107.45 on Friday. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.38. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average is $85.24 and its 200-day moving average is $87.95. The firm has a market capitalization of $40.31 billion, a PE ratio of 83.95, a P/E/G ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Sell-side analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is 7.81%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred 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 approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VRT shares. The Goldman Sachs Group cut their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Jefferies Financial Group started coverage on Vertiv in a report on Monday. They issued a “buy” rating and a $125.00 price target on the stock. TD Cowen increased their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI increased their price target on Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $106.89.

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.