New Wave Wealth Advisors LLC Makes New $899,000 Investment in Vertiv Holdings Co. $VRT

New Wave Wealth Advisors LLC purchased a new position in Vertiv Holdings Co. (NYSE:VRT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,961 shares of the company’s stock, valued at approximately $899,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its position in Vertiv by 1,560.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 166 shares of the company’s stock worth $25,000 after buying an additional 156 shares during the last quarter. Promus Capital LLC purchased a new position in shares of Vertiv in the second quarter valued at about $26,000. Pacer Advisors Inc. increased its holdings in Vertiv by 67.6% during the 3rd quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Avion Wealth raised its position in Vertiv by 99.1% during the 2nd quarter. Avion Wealth now owns 213 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in Vertiv by 54.0% in the 3rd quarter. True Wealth Design LLC now owns 194 shares of the company’s stock worth $29,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $180.94 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $170.50 and a 200-day moving average price of $156.27. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $202.45. The firm has a market capitalization of $69.18 billion, a PE ratio of 68.28, a P/E/G ratio of 1.09 and a beta of 2.06.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 22nd. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.59 billion. Vertiv had a return on equity of 50.82% and a net margin of 10.67%.Vertiv’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, equities research analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 25th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $0.25 annualized dividend and a yield of 0.1%. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. Vertiv’s payout ratio is currently 9.43%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho boosted their target price on Vertiv from $165.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wolfe Research cut shares of Vertiv from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 9th. Zacks Research upgraded shares of Vertiv from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. KGI Securities upgraded Vertiv from a “hold” rating to an “outperform” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vertiv from $230.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $187.89.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 5,501 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the sale, the executive vice president directly owned 4,050 shares of the company’s stock, valued at $690,444. This represents a 57.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.63% of the company’s stock.

Vertiv Profile

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.