Azzad Asset Management Inc. ADV Increases Stock Holdings in Vertiv Holdings Co. $VRT

Azzad Asset Management Inc. ADV lifted its stake in shares of Vertiv Holdings Co. (NYSE:VRT) by 105.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,201 shares of the company’s stock after buying an additional 15,499 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Vertiv were worth $4,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. increased its stake in Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 156 shares during the period. Promus Capital LLC purchased a new stake in shares of Vertiv in the second quarter valued at about $26,000. Pacer Advisors Inc. increased its stake in shares of Vertiv by 67.6% during the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock worth $26,000 after acquiring an additional 69 shares during the period. Avion Wealth raised its holdings in Vertiv by 99.1% during the second quarter. Avion Wealth now owns 213 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in Vertiv by 54.0% in the third quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after purchasing an additional 68 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Up 10.0%

VRT opened at $195.61 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.43 and a current ratio of 1.83. The company has a market cap of $74.79 billion, a price-to-earnings ratio of 73.82, a PEG ratio of 1.20 and a beta of 2.08. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The business’s fifty day moving average is $174.64 and its two-hundred day moving average is $161.21.

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 given a $0.0625 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. This is a boost from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s payout ratio is presently 9.43%.

Insiders Place Their Bets

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 completion of the transaction, the executive vice president directly owned 4,050 shares in the company, valued at approximately $690,444. This trade represents a 57.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on VRT shares. Citigroup boosted their target price on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wolfe Research downgraded Vertiv from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $216.00 price objective on Vertiv and gave the stock a “buy” rating in a report on Wednesday, October 15th. Roth Mkm reissued a “buy” rating and issued a $195.00 target price (up previously from $162.00) on shares of Vertiv in a report on Tuesday, October 21st. Finally, Zacks Research upgraded shares of Vertiv from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

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.