Presidio Capital Management LLC Takes Position in Vertiv Holdings Co (NYSE:VRT)

Presidio Capital Management LLC bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,325 shares of the company’s stock, valued at approximately $430,000.

Several other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD increased its stake in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after acquiring an additional 3,591,903 shares during the period. Vanguard Group Inc. increased its stake in Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Castle Hook Partners LP acquired a new position in Vertiv in the 1st quarter valued at $135,987,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Price Performance

Shares of VRT opened at $122.17 on Friday. The business has a 50-day simple moving average of $98.93 and a two-hundred day simple moving average of $91.90. Vertiv Holdings Co has a 12-month low of $39.51 and a 12-month high of $124.86. The stock has a market cap of $45.86 billion, a PE ratio of 81.45, a PEG ratio of 1.15 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company 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 firm posted $0.52 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. Analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued 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 yield of 0.08%. Vertiv’s payout ratio is 6.67%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VRT shares. Bank of America boosted their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup increased their price target on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their target price on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Oppenheimer lifted their target price on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $122.11.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.01% of the stock is owned by corporate insiders.

About Vertiv

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.