Kovack Advisors Inc. Buys 29,338 Shares of Vertiv Holdings Co (NYSE:VRT)

Kovack Advisors Inc. boosted its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 91.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,392 shares of the company’s stock after purchasing an additional 29,338 shares during the quarter. Vertiv comprises 0.6% of Kovack Advisors Inc.’s holdings, making the stock its 29th largest holding. Kovack Advisors Inc.’s holdings in Vertiv were worth $6,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new position in shares of Vertiv in the 2nd quarter worth approximately $26,000. Mather Group LLC. grew its holdings in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Vertiv during the third quarter worth $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Vertiv in the 2nd quarter worth $34,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated 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 directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on VRT shares. TD Cowen increased their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Oppenheimer boosted their target price on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Bank of America boosted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv has an average rating of “Buy” and an average price target of $125.40.

Vertiv Stock Performance

Shares of NYSE VRT traded up $3.08 during trading on Wednesday, reaching $126.89. 1,440,024 shares of the company traded hands, compared to its average volume of 8,181,621. The stock has a market cap of $47.63 billion, a P/E ratio of 82.54, a PEG ratio of 1.38 and a beta of 1.58. The firm’s fifty day simple moving average is $102.48 and its 200 day simple moving average is $93.08. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $130.30.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.08%. Vertiv’s dividend payout ratio is presently 6.67%.

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.