New Wave Wealth Advisors LLC Purchases New Position in Vertiv Holdings Co. $VRT

New Wave Wealth Advisors LLC acquired a new position in shares of Vertiv Holdings Co. (NYSE:VRT) during the 3rd quarter, Holdings Channel reports. The fund acquired 5,961 shares of the company’s stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Vertiv during the 2nd quarter valued at about $538,132,000. Winslow Capital Management LLC bought a new stake in Vertiv during the second quarter worth approximately $459,284,000. Nordea Investment Management AB raised its position in Vertiv by 100.1% during the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock valued at $415,132,000 after purchasing an additional 1,624,456 shares during the period. SG Americas Securities LLC lifted its stake in shares of Vertiv by 102.7% in the 2nd quarter. SG Americas Securities LLC now owns 26,837 shares of the company’s stock valued at $3,446,000 after purchasing an additional 1,026,837 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Vertiv by 20.9% in 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 period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI increased their price target on Vertiv from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Wolfe Research downgraded shares of Vertiv from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 9th. Mizuho lifted their price target on shares of Vertiv from $165.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley increased their price objective on shares of Vertiv from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, UBS Group boosted their target price on Vertiv from $173.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.89.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 5,501 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.63% of the stock is currently owned by insiders.

Vertiv Stock Down 0.3%

Shares of NYSE:VRT opened at $180.94 on Friday. The business’s 50 day moving average is $170.50 and its 200 day moving average is $156.27. The stock has a market cap of $69.18 billion, a P/E ratio of 68.28, a price-to-earnings-growth ratio of 1.09 and a beta of 2.06. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $202.45. 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 issued its earnings results on Wednesday, October 22nd. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.25. Vertiv had a return on equity of 50.82% and a net margin of 10.67%.The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Sell-side analysts predict that Vertiv Holdings Co. will post 3.59 EPS 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 paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. This is a boost from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, November 25th. Vertiv’s payout ratio is currently 9.43%.

Vertiv Profile

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.