Kingsview Wealth Management LLC Buys 2,219 Shares of Vertiv Holdings Co (NYSE:VRT)

Kingsview Wealth Management LLC grew its stake in Vertiv Holdings Co (NYSE:VRT) by 60.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,873 shares of the company’s stock after purchasing an additional 2,219 shares during the period. Kingsview Wealth Management LLC’s holdings in Vertiv were worth $667,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC raised its holdings in Vertiv by 14.8% in the 4th quarter. Apollon Wealth Management LLC now owns 11,363 shares of the company’s stock worth $1,291,000 after purchasing an additional 1,469 shares in the last quarter. Almanack Investment Partners LLC. raised its holdings in Vertiv by 11.1% in the 4th quarter. Almanack Investment Partners LLC. now owns 4,220 shares of the company’s stock worth $479,000 after purchasing an additional 420 shares in the last quarter. Mezzasalma Advisors LLC raised its holdings in Vertiv by 24.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 20,008 shares of the company’s stock worth $2,273,000 after purchasing an additional 3,945 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in Vertiv in the 4th quarter worth $26,000. Finally, Lecap Asset Management Ltd. bought a new position in Vertiv in the 4th quarter worth $1,257,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 in the last 90 days. 5.01% of the stock is currently owned by insiders.

Vertiv Stock Performance

Shares of VRT stock opened at $111.34 on Thursday. Vertiv Holdings Co has a one year low of $55.00 and a one year high of $155.84. The company’s 50-day moving average is $124.27 and its 200 day moving average is $108.09. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 74.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. During the same quarter in the prior year, the business posted $0.56 EPS. Sell-side analysts expect that Vertiv Holdings Co will post 2.7 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Melius downgraded shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and issued a $125.00 target price on shares of Vertiv in a research report on Tuesday, January 28th. Fox Advisors started coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an “equal weight” rating on the stock. Finally, Barclays started coverage on shares of Vertiv in a research report on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Vertiv 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.