Prosperity Wealth Management Inc. Decreases Position in Vertiv Holdings Co (NYSE:VRT)

Prosperity Wealth Management Inc. lowered its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,918 shares of the company’s stock after selling 1,587 shares during the period. Prosperity Wealth Management Inc.’s holdings in Vertiv were worth $786,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Silverleafe Capital Partners LLC purchased a new position in Vertiv in the 4th quarter valued at approximately $4,219,000. Foundations Investment Advisors LLC grew its stake in Vertiv by 7.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 185,512 shares of the company’s stock valued at $21,076,000 after buying an additional 13,559 shares in the last quarter. Empowered Funds LLC grew its stake in Vertiv by 67.0% in the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock valued at $1,043,000 after buying an additional 3,682 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its stake in Vertiv by 112.5% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 8,500 shares of the company’s stock valued at $846,000 after buying an additional 4,500 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Vertiv by 3,417.9% in the 4th quarter. Nordea Investment Management AB now owns 964,104 shares of the company’s stock valued at $110,544,000 after buying an additional 936,698 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

VRT has been the subject of a number of recent research reports. Royal Bank of Canada initiated coverage on shares of Vertiv in a research note on Friday, March 7th. They issued an “outperform” rating and a $121.00 price objective for the company. Morgan Stanley started coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target for the company. Melius Research reissued a “hold” rating and issued a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Citigroup raised their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.07.

Vertiv Stock Performance

Vertiv stock opened at $83.06 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $31.63 billion, a PE ratio of 64.89, a P/E/G ratio of 1.07 and a beta of 1.71. The firm has a fifty day simple moving average of $113.71 and a two-hundred day simple moving average of $110.98. Vertiv Holdings Co has a twelve month low of $62.40 and a twelve month high of $155.84.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same period in the prior year, the firm earned $0.56 earnings per share. Research analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio (DPR) is 11.72%.

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.