Old West Investment Management LLC Boosts Holdings in Vertiv Holdings Co (NYSE:VRT)

Old West Investment Management LLC raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,689 shares of the company’s stock after buying an additional 3,808 shares during the period. Old West Investment Management LLC’s holdings in Vertiv were worth $1,704,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in Vertiv in the 1st quarter worth $25,000. Raleigh Capital Management Inc. raised its stake in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of Vertiv during the 1st quarter valued at about $27,000. Mather Group LLC. lifted its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Vertiv during the 1st quarter valued at approximately $34,000. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen raised their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a research report on Thursday, August 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $102.13.

Vertiv Price Performance

NYSE:VRT opened at $86.99 on Tuesday. The business’s 50-day moving average is $79.64 and its 200 day moving average is $84.91. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $109.27. The company has a market capitalization of $32.56 billion, a P/E ratio of 83.64, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a $0.025 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is currently 9.62%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.01% of the company’s stock.

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.