Spirit of America Management Corp NY Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Spirit of America Management Corp NY lifted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 81.7% in the third quarter, HoldingsChannel.com reports. The firm owned 6,450 shares of the company’s stock after purchasing an additional 2,900 shares during the period. Spirit of America Management Corp NY’s holdings in Vertiv were worth $642,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VRT. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD increased its position in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Vanguard Group Inc. raised its holdings in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares in the last quarter. Castle Hook Partners LP purchased a new stake in shares of Vertiv in the 1st quarter worth about $135,987,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Up 1.6 %

NYSE:VRT opened at $110.05 on Friday. The firm has a 50-day simple moving average of $92.37 and a two-hundred day simple moving average of $89.83. The firm has a market cap of $41.20 billion, a P/E ratio of 105.82, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts predict 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 was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Analyst Upgrades and Downgrades

VRT has been the subject of several research analyst reports. Oppenheimer raised their price objective on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen increased their target price on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho increased their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $122.11.

Vertiv Company 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.