Balboa Wealth Partners Buys 2,959 Shares of Vertiv Holdings Co (NYSE:VRT)

Balboa Wealth Partners lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,407 shares of the company’s stock after purchasing an additional 2,959 shares during the period. Balboa Wealth Partners’ holdings in Vertiv were worth $1,978,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP grew its holdings in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares in the last quarter. Castle Hook Partners LP grew its holdings in Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Vertiv during the 3rd quarter worth about $110,517,000. Finally, Blue Whale Capital LLP bought a new position in Vertiv during the 3rd quarter worth about $93,481,000. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Performance

VRT opened at $85.23 on Thursday. Vertiv Holdings Co has a 12-month low of $62.40 and a 12-month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $32.45 billion, a PE ratio of 66.58, a P/E/G ratio of 1.07 and a beta of 1.71. The firm has a 50 day moving average of $113.15 and a two-hundred day moving average of $110.80.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $0.56 earnings per share. On average, analysts anticipate that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th will be issued 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 of this dividend is Tuesday, March 18th. Vertiv’s dividend payout ratio (DPR) is 11.72%.

Wall Street Analysts Forecast Growth

VRT has been the topic of several recent research reports. Royal Bank of Canada assumed coverage on shares of Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 target price on the stock. Mizuho raised their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Morgan Stanley assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target on the stock. Barclays lowered their price target on shares of Vertiv from $131.00 to $111.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.07.

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.