Menard Financial Group LLC Has $457,000 Position in Vertiv Holdings Co (NYSE:VRT)

Menard Financial Group LLC increased its position in Vertiv Holdings Co (NYSE:VRT) by 18.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,277 shares of the company’s stock after acquiring an additional 820 shares during the period. Menard Financial Group LLC’s holdings in Vertiv were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VRT. Norges Bank acquired a new position in Vertiv in the fourth quarter worth approximately $185,339,000. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the second quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD boosted its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after purchasing an additional 3,591,903 shares during the period. Coatue Management LLC boosted its position in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the period. Finally, Vanguard Group Inc. boosted its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Down 1.2 %

VRT opened at $85.76 on Monday. Vertiv Holdings Co has a 1-year low of $34.60 and a 1-year high of $109.27. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $32.10 billion, a price-to-earnings ratio of 82.46, a P/E/G ratio of 1.08 and a beta of 1.58. The business has a 50 day moving average of $79.75 and a 200-day moving average of $84.77.

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

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be paid a $0.025 dividend. 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 0.12%. Vertiv’s payout ratio is 9.62%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VRT shares. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $102.13.

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.