Neo Ivy Capital Management Makes New $1.49 Million Investment in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Neo Ivy Capital Management made a new investment in Vertiv Holdings Co., acquiring 20,608 shares valued at approximately $1.49 million in the first quarter of the year.
• Vertiv's stock increased by 5.1%, reaching a price of $137.52, with a market cap of $52.41 billion and a P/E ratio of 79.96.
• The company announced an increase in dividends, raising the payout from $0.01 to $0.0375 per share, reflecting a positive change for shareholders.

Neo Ivy Capital Management acquired a new position in Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,608 shares of the company's stock, valued at approximately $1,488,000.

Several other institutional investors also recently modified their holdings of the business. Schroder Investment Management Group boosted its position in Vertiv by 95.3% during the fourth quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company's stock valued at $135,621,000 after acquiring an additional 569,722 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new position in shares of Vertiv during the fourth quarter valued at about $415,000. Ibex Wealth Advisors raised its holdings in shares of Vertiv by 10.5% during the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the period. Gallo Partners LP acquired a new position in shares of Vertiv during the fourth quarter valued at about $1,826,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the fourth quarter valued at about $597,379,000. Institutional investors own 89.92% of the company's stock.

Vertiv Trading Up 5.1%

Vertiv stock traded up $6.65 during trading hours on Friday, reaching $137.52. The stock had a trading volume of 8,225,774 shares, compared to its average volume of 6,826,359. The stock has a market cap of $52.41 billion, a PE ratio of 79.96, a PEG ratio of 1.30 and a beta of 1.75. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. The company has a fifty day simple moving average of $118.59 and a 200-day simple moving average of $104.33.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The company's revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. Analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv's payout ratio is presently 8.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. JPMorgan Chase & Co. upped their target price on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price on the stock in a report on Tuesday, July 8th. Roth Capital raised shares of Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $136.76.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total transaction of $518,815.00. Following the completion of the transaction, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president directly owned 9,551 shares in the company, valued at approximately $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

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.