ABN AMRO Bank N.V. acquired a new position in Vertiv Holdings Co. (NYSE:VRT – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,209 shares of the company’s stock, valued at approximately $809,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Maridea Wealth Management LLC purchased a new stake in Vertiv during the first quarter valued at approximately $988,000. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Vertiv by 23.8% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,653 shares of the company’s stock valued at $414,000 after buying an additional 318 shares in the last quarter. Next Level Wealth Planning LLC purchased a new position in shares of Vertiv during the 1st quarter valued at about $251,000. J2 Capital Management Inc purchased a new position in shares of Vertiv during the 1st quarter valued at about $649,000. Finally, SmartHarvest Portfolios LLC bought a new position in shares of Vertiv during the 1st quarter valued at approximately $247,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Vertiv Stock Performance
NYSE:VRT opened at $304.11 on Monday. The company has a market cap of $116.81 billion, a price-to-earnings ratio of 76.41, a PEG ratio of 1.32 and a beta of 2.04. Vertiv Holdings Co. has a 1 year low of $110.06 and a 1 year high of $379.93. The stock’s 50 day simple moving average is $324.10 and its two-hundred day simple moving average is $254.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.49 and a quick ratio of 1.15.
Vertiv Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were given a dividend of $0.0625 per share. The ex-dividend date was Monday, June 15th. This represents a $0.25 annualized dividend and a yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is 6.28%.
Wall Street Analyst Weigh In
VRT has been the topic of a number of recent analyst reports. BNP Paribas Exane assumed coverage on shares of Vertiv in a research note on Tuesday, April 14th. They set an “outperform” rating and a $345.00 target price on the stock. HSBC began coverage on shares of Vertiv in a research report on Wednesday, March 25th. They issued a “buy” rating and a $325.00 price target for the company. Weiss Ratings cut shares of Vertiv from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Barclays raised their price objective on shares of Vertiv from $345.00 to $412.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Zacks Research cut shares of Vertiv from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average target price of $326.39.
Read Our Latest Analysis on Vertiv
About Vertiv
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.
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