Elite Wealth Management Inc. Trims Holdings in Vertiv Holdings Co. (NYSE:VRT)

Elite Wealth Management Inc. trimmed its position in Vertiv Holdings Co. (NYSE:VRT) by 59.2% during the first quarter, Holdings Channel.com reports. The firm owned 45,099 shares of the company’s stock after selling 65,419 shares during the period. Vertiv accounts for about 0.4% of Elite Wealth Management Inc.’s holdings, making the stock its 16th largest holding. Elite Wealth Management Inc.’s holdings in Vertiv were worth $3,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRT. Apollon Wealth Management LLC lifted its holdings in shares of Vertiv by 69.5% during the 1st quarter. Apollon Wealth Management LLC now owns 19,262 shares of the company’s stock worth $1,391,000 after acquiring an additional 7,899 shares during the period. Hohimer Wealth Management LLC purchased a new position in shares of Vertiv during the 1st quarter worth about $541,000. Edgestream Partners L.P. purchased a new position in shares of Vertiv during the 1st quarter worth about $1,000,000. Florida Financial Advisors LLC purchased a new position in shares of Vertiv during the 1st quarter worth about $380,000. Finally, CWM LLC lifted its holdings in shares of Vertiv by 18.3% during the 1st quarter. CWM LLC now owns 30,210 shares of the company’s stock worth $2,181,000 after acquiring an additional 4,682 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VRT shares. Cowen reissued a “buy” rating on shares of Vertiv in a research report on Thursday, April 24th. Roth Capital raised shares of Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Morgan Stanley dropped their target price on shares of Vertiv from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Wall Street Zen raised shares of Vertiv from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Finally, Melius Research raised shares of Vertiv from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from $134.00 to $165.00 in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $134.24.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the transaction, the insider directly owned 18,847 shares of the company’s stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.

Vertiv Price Performance

Shares of NYSE VRT opened at $123.41 on Monday. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The firm’s 50-day simple moving average is $112.86 and its 200 day simple moving average is $103.55. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The stock has a market cap of $47.03 billion, a P/E ratio of 71.75, a P/E/G ratio of 1.23 and a beta of 1.75.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. Vertiv’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Equities analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous dividend of $0.01. This represents a yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv’s payout ratio is presently 8.72%.

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.