10,000 Shares in Vertiv Holdings Co (NYSE:VRT) Bought by Artemis Wealth Advisors LLC

Artemis Wealth Advisors LLC purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $866,000. Vertiv accounts for about 0.1% of Artemis Wealth Advisors LLC’s holdings, making the stock its 20th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hudock Inc. bought a new stake in shares of Vertiv in the 2nd quarter worth about $275,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Vertiv during the 2nd quarter valued at about $10,605,000. Chase Investment Counsel Corp grew its position in shares of Vertiv by 15.7% during the 2nd quarter. Chase Investment Counsel Corp now owns 89,235 shares of the company’s stock valued at $7,725,000 after buying an additional 12,093 shares during the last quarter. TD Asset Management Inc grew its position in shares of Vertiv by 2.2% during the 2nd quarter. TD Asset Management Inc now owns 57,812 shares of the company’s stock valued at $5,005,000 after buying an additional 1,222 shares during the last quarter. Finally, Pursue Wealth Partners LLC bought a new stake in shares of Vertiv during the 2nd quarter valued at about $1,615,000. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VRT shares. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. TD Cowen upped their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Bank of America upped their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $96.22.

Vertiv Price Performance

VRT stock traded down $1.53 on Friday, hitting $73.62. 1,053,230 shares of the company’s stock traded hands, compared to its average volume of 8,558,705. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 72.26, a P/E/G ratio of 1.08 and a beta of 1.58. The stock has a fifty day moving average of $81.01 and a 200-day moving average of $83.81. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.14%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Vertiv Company 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.