Accent Capital Management LLC Acquires New Holdings in Vertiv Holdings Co. (NYSE:VRT)

Accent Capital Management LLC acquired a new position in Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,247 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Vertiv by 54.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock worth $263,000,000 after buying an additional 812,389 shares in the last quarter. Federated Hermes Inc. boosted its position in Vertiv by 61.7% during the fourth quarter. Federated Hermes Inc. now owns 1,874,256 shares of the company's stock worth $212,946,000 after acquiring an additional 715,212 shares during the last quarter. Northern Trust Corp boosted its position in Vertiv by 21.9% during the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after acquiring an additional 487,909 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Vertiv by 370.7% during the fourth quarter. Voloridge Investment Management LLC now owns 607,384 shares of the company's stock worth $69,005,000 after acquiring an additional 478,350 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Vertiv by 52.5% during the 4th quarter. Royal Bank of Canada now owns 1,173,242 shares of the company's stock worth $133,293,000 after acquiring an additional 403,882 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley cut their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Roth Mkm initiated coverage on Vertiv in a research note on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Mizuho boosted their price objective on Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Wolfe Research reiterated an "outperform" rating and issued a $155.00 price objective on shares of Vertiv in a research note on Thursday, July 10th. Finally, KGI Securities initiated coverage on Vertiv in a research note on Thursday, April 24th. They issued a "hold" rating for the company. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Vertiv presently has an average rating of "Moderate Buy" and an average target price of $144.06.

Vertiv Stock Performance

Shares of Vertiv stock traded down $1.36 during trading hours on Tuesday, reaching $138.84. The company had a trading volume of 5,084,088 shares, compared to its average volume of 9,007,200. The business has a fifty day simple moving average of $123.19 and a 200 day simple moving average of $104.51. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The firm has a market cap of $52.91 billion, a PE ratio of 66.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm's quarterly revenue was up 35.1% on a year-over-year basis. On average, analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued 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 14.0%. Vertiv's dividend payout ratio (DPR) is currently 7.18%.

Insider Buying and Selling

In other news, 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 sale, the executive vice president directly owned 9,551 shares of the company's stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by corporate 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.