Balboa Wealth Partners Raises Position in Vertiv Holdings Co (NYSE:VRT)

Balboa Wealth Partners raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 20.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,407 shares of the company’s stock after acquiring an additional 2,959 shares during the quarter. Balboa Wealth Partners’ holdings in Vertiv were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VRT. Principal Financial Group Inc. raised its position in shares of Vertiv by 430.5% during the 3rd quarter. Principal Financial Group Inc. now owns 165,557 shares of the company’s stock valued at $16,471,000 after purchasing an additional 134,349 shares during the period. Atria Investments Inc raised its position in shares of Vertiv by 45.6% during the 3rd quarter. Atria Investments Inc now owns 16,690 shares of the company’s stock valued at $1,660,000 after purchasing an additional 5,225 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Vertiv during the 3rd quarter valued at $735,000. Crossmark Global Holdings Inc. raised its position in shares of Vertiv by 5.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,950 shares of the company’s stock valued at $293,000 after purchasing an additional 156 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of Vertiv by 71.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 9,894 shares of the company’s stock valued at $984,000 after purchasing an additional 4,135 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Vertiv Price Performance

Vertiv stock opened at $85.23 on Thursday. Vertiv Holdings Co has a 52-week low of $62.40 and a 52-week high of $155.84. The company has a market cap of $32.45 billion, a price-to-earnings ratio of 66.58, a PEG ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $113.15 and its 200 day moving average is $110.80.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the prior year, the company earned $0.56 EPS. Sell-side analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio is currently 11.72%.

Analysts Set New Price Targets

VRT has been the topic of several recent analyst reports. Melius Research restated a “hold” rating and set a $125.00 price objective on shares of Vertiv in a research report on Tuesday, January 28th. Melius downgraded shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective for the company. Finally, UBS Group assumed coverage on Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.07.

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.