Hazlett Burt & Watson Inc. Purchases 1,240 Shares of Vertiv Holdings Co (NYSE:VRT)

Hazlett Burt & Watson Inc. grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 322.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,625 shares of the company’s stock after buying an additional 1,240 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Vertiv were worth $159,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its position in 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 period. Whittier Trust Co. increased its position in shares of Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Vertiv by 190.7% in the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after purchasing an additional 36,684 shares during the period. Janney Capital Management LLC bought a new position in shares of Vertiv in the third quarter worth $8,403,000. Finally, Generate Investment Management Ltd increased its position in shares of Vertiv by 180.8% in the third quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock worth $59,532,000 after purchasing an additional 385,251 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

NYSE:VRT opened at $106.21 on Tuesday. The stock’s 50-day simple moving average is $97.48 and its 200 day simple moving average is $91.44. Vertiv Holdings Co has a twelve month low of $38.68 and a twelve month high of $116.41. The firm has a market capitalization of $39.86 billion, a PE ratio of 70.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.58. 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 quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 6.67%.

Analyst Upgrades and Downgrades

VRT has been the topic of a number of recent analyst reports. Bank of America raised their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of “Buy” and a consensus target price of $122.11.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on 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 of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by insiders.

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.