Traynor Capital Management Inc. Makes New $6.46 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Traynor Capital Management Inc. acquired a new position in Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 64,963 shares of the company’s stock, valued at approximately $6,463,000.

A number of other institutional investors have also recently added to or reduced their stakes in VRT. Anchor Investment Management LLC acquired a new position in Vertiv in the 2nd quarter worth $26,000. Mather Group LLC. lifted its holdings in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Vertiv in the 3rd quarter valued at about $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the 3rd quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Vertiv in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Price Performance

VRT opened at $113.58 on Tuesday. The firm has a market cap of $42.61 billion, a price-to-earnings ratio of 109.21, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59. Vertiv Holdings Co has a fifty-two week low of $36.40 and a fifty-two week high of $116.41. The company’s 50-day moving average price is $94.27 and its 200 day moving average price is $90.46. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts expect 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 was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer upped their target price on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group cut their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.11.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.01% of the stock is owned by insiders.

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.