Wolff Wiese Magana LLC Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Wolff Wiese Magana LLC grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 55.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,022 shares of the company’s stock after purchasing an additional 4,668 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Vertiv were worth $1,296,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRT. Massachusetts Financial Services Co. MA purchased a new position in Vertiv during the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after acquiring an additional 3,591,903 shares during the period. Vanguard Group Inc. grew its position in shares of Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP acquired a new position in shares of Vertiv in the 1st quarter valued at $135,987,000. Finally, Westfield Capital Management Co. LP raised its position in Vertiv by 85.2% in 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 during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Price Performance

Vertiv stock opened at $111.69 on Thursday. 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 Holdings Co has a one year low of $34.60 and a one year high of $113.43. The company has a market cap of $41.81 billion, a P/E ratio of 107.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business has a fifty day moving average of $88.63 and a two-hundred day moving average of $88.81.

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

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s dividend payout ratio is presently 9.62%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VRT. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Evercore ISI boosted their target price on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their price objective 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. Finally, TD Cowen upped their price objective on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $110.44.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.01% of the stock is owned by company 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.