Kestra Investment Management LLC Has $2.26 Million Position in Vertiv Holdings Co (NYSE:VRT)

Kestra Investment Management LLC increased its holdings in Vertiv Holdings Co (NYSE:VRT) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,740 shares of the company’s stock after purchasing an additional 3,694 shares during the period. Kestra Investment Management LLC’s holdings in Vertiv were worth $2,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in shares of Vertiv by 513.6% in the 1st quarter. Cetera Investment Advisers now owns 57,311 shares of the company’s stock valued at $4,681,000 after purchasing an additional 47,971 shares during the period. Cetera Advisors LLC raised its stake in Vertiv by 41.1% during the first quarter. Cetera Advisors LLC now owns 9,252 shares of the company’s stock worth $756,000 after acquiring an additional 2,695 shares in the last quarter. GAMMA Investing LLC raised its stake in Vertiv by 44.3% during the second quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock worth $82,000 after acquiring an additional 289 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Vertiv during the second quarter valued at $1,716,000. Finally, Mather Group LLC. boosted its stake in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VRT shares. Mizuho lifted their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. TD Cowen lifted their target price on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Citigroup increased their price target on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Trading Up 0.5 %

Shares of VRT opened at $127.60 on Friday. The stock’s fifty day simple moving average is $114.87 and its 200-day simple moving average is $96.32. The firm has a market capitalization of $47.89 billion, a PE ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $42.50 and a 12-month high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. As a group, research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is 6.67%.

Insider Activity at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,451 shares of company stock worth $26,699,153. 5.01% of the stock is owned by insiders.

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.