Bearing Point Capital LLC Grows Stake in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Bearing Point Capital LLC increased its stake in Vertiv Holdings Co. by 88.1%, acquiring a total of 15,246 shares worth approximately $1.1 million.
• Analysts have raised their price targets for Vertiv, with Barclays setting a new target of $110 and Bank of America raising its target to $150, indicating strong confidence in the stock.
• Vertiv announced an increase in its dividend to $0.0375 per share, reflecting a positive change from its previous dividend of $0.01.

Bearing Point Capital LLC boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 88.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,246 shares of the company's stock after purchasing an additional 7,139 shares during the period. Bearing Point Capital LLC's holdings in Vertiv were worth $1,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. GW&K Investment Management LLC acquired a new position in shares of Vertiv during the 1st quarter worth $26,000. North Star Investment Management Corp. boosted its holdings in Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after purchasing an additional 412 shares during the period. Sachetta LLC lifted its holdings in shares of Vertiv by 242.0% during the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after acquiring an additional 317 shares during the period. Colonial Trust Co SC lifted its holdings in shares of Vertiv by 211.9% during the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after acquiring an additional 214 shares during the period. Finally, Ameriflex Group Inc. bought a new position in shares of Vertiv during the 4th quarter worth about $37,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction 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 transaction, the insider directly owned 18,847 shares of the company's stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction 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 owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VRT. Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $134.00 to $165.00 in a research note on Tuesday, July 8th. Morgan Stanley lowered their price target 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. Barclays boosted their price objective on shares of Vertiv from $90.00 to $110.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $136.76.

Vertiv Trading Up 5.1%

NYSE VRT traded up $6.65 during trading hours on Friday, reaching $137.52. The company's stock had a trading volume of 8,225,774 shares, compared to its average volume of 6,826,359. The firm has a fifty day simple moving average of $118.59 and a 200-day simple moving average of $104.16. The stock has a market cap of $52.41 billion, a P/E ratio of 79.96, a P/E/G ratio of 1.37 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.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $2.04 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. Equities analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is an increase from Vertiv's previous dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv's dividend payout ratio (DPR) is 8.72%.

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.