Riggs Asset Managment Co. Inc. Boosts Holdings in Vertiv Holdings Co (NYSE:VRT)

Riggs Asset Managment Co. Inc. lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 55.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,349 shares of the company’s stock after acquiring an additional 12,563 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Vertiv were worth $3,517,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. raised its stake in Vertiv by 2.7% during the third quarter. J.W. Cole Advisors Inc. now owns 7,533 shares of the company’s stock worth $749,000 after purchasing an additional 197 shares during the period. Goldstein Advisors LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth $202,000. Modera Wealth Management LLC purchased a new position in shares of Vertiv in the 3rd quarter worth $230,000. Arkadios Wealth Advisors boosted its holdings in Vertiv by 16.0% in the third quarter. Arkadios Wealth Advisors now owns 5,706 shares of the company’s stock valued at $568,000 after acquiring an additional 787 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in Vertiv by 23.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 4,852 shares of the company’s stock valued at $483,000 after acquiring an additional 930 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday. Oppenheimer raised their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv has an average rating of “Buy” and an average price target of $122.11.

Vertiv Stock Performance

Shares of VRT stock opened at $112.17 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The company’s fifty day moving average price is $93.57 and its two-hundred day moving average price is $90.26. The firm has a market capitalization of $42.08 billion, a P/E ratio of 87.63, a P/E/G ratio of 1.47 and a beta of 1.59. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $116.41.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. Vertiv’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 7.81%.

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.