Acumen Wealth Advisors LLC Has $871,000 Position in Vertiv Holdings Co. $VRT

Acumen Wealth Advisors LLC increased its position in shares of Vertiv Holdings Co. (NYSE:VRTFree Report) by 1,547.9% during the 1st quarter, HoldingsChannel reports. The fund owned 3,477 shares of the company’s stock after purchasing an additional 3,266 shares during the quarter. Acumen Wealth Advisors LLC’s holdings in Vertiv were worth $871,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. CI Investments Inc. raised its stake in shares of Vertiv by 2.0% during the first quarter. CI Investments Inc. now owns 204,031 shares of the company’s stock worth $51,126,000 after buying an additional 3,989 shares during the last quarter. Insight Advisors LLC PA bought a new position in Vertiv during the 1st quarter worth approximately $249,000. Millennium Capital Advisors LLC grew its holdings in Vertiv by 4.1% during the first quarter. Millennium Capital Advisors LLC now owns 2,561 shares of the company’s stock valued at $642,000 after purchasing an additional 102 shares during the period. PNC Financial Services Group Inc. increased its stake in Vertiv by 30.0% in the first quarter. PNC Financial Services Group Inc. now owns 65,717 shares of the company’s stock valued at $16,467,000 after purchasing an additional 15,167 shares in the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new stake in Vertiv in the first quarter valued at approximately $60,000. Institutional investors own 89.92% of the company’s stock.

Key Stories Impacting Vertiv

Here are the key news stories impacting Vertiv this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VRT shares. Weiss Ratings lowered shares of Vertiv from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. The Goldman Sachs Group boosted their price target on shares of Vertiv from $277.00 to $311.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Robert W. Baird initiated coverage on shares of Vertiv in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $370.00 price objective for the company. Citigroup raised their price objective on Vertiv from $353.00 to $414.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Glj Research upgraded Vertiv from a “sell” rating to a “hold” rating in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $342.73.

View Our Latest Report on Vertiv

Vertiv Trading Up 4.5%

Shares of NYSE:VRT opened at $304.73 on Wednesday. The company’s 50-day moving average price is $317.64 and its two-hundred day moving average price is $272.03. Vertiv Holdings Co. has a one year low of $118.70 and a one year high of $379.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.49 and a quick ratio of 1.15. The stock has a market capitalization of $117.05 billion, a PE ratio of 76.56, a price-to-earnings-growth ratio of 1.26 and a beta of 2.03.

Vertiv (NYSE:VRTGet Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.17. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Vertiv had a return on equity of 49.90% and a net margin of 14.37%.Vertiv’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Vertiv Holdings Co. will post 6.38 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, June 15th. Vertiv’s payout ratio is presently 6.28%.

About Vertiv

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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