Bowen Hanes & Co. Inc. Decreases Stake in Vertiv Holdings Co. $VRT

Key Points

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Bowen Hanes & Co. Inc. lowered its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 94.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the company's stock after selling 220,045 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Vertiv were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRT. GW&K Investment Management LLC purchased a new position in shares of Vertiv in the first quarter worth $26,000. SouthState Corp purchased a new position in shares of Vertiv in the first quarter worth $27,000. North Star Investment Management Corp. raised its holdings in shares of Vertiv by 4,120.0% in the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after buying an additional 412 shares during the last quarter. Sachetta LLC raised its holdings in shares of Vertiv by 242.0% in the first quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after buying an additional 317 shares during the last quarter. Finally, Colonial Trust Co SC raised its holdings in shares of Vertiv by 211.9% in the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Vertiv Stock Performance

VRT opened at $135.60 on Tuesday. The firm has a market capitalization of $51.78 billion, a PE ratio of 64.88, a PEG ratio of 1.17 and a beta of 1.77. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The firm's 50-day moving average price is $128.59 and its 200 day moving average price is $105.22. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93.

Vertiv (NYSE:VRT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. Vertiv's revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. As a group, sell-side analysts expect that Vertiv Holdings Co. will post 3.59 EPS 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 $0.0375 dividend. This represents a yield of 14.0%. The ex-dividend date was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's dividend payout ratio (DPR) is presently 7.18%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 41,654 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $134.21, for a total value of $5,590,383.34. Following the transaction, the insider directly owned 18,848 shares in the company, valued at $2,529,590.08. The trade was a 68.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the transaction, 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. Insiders own 5.01% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on VRT. UBS Group raised their price target on shares of Vertiv from $135.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. William Blair began coverage on shares of Vertiv in a report on Monday, July 28th. They set an "outperform" rating for the company. Evercore ISI reissued an "outperform" rating on shares of Vertiv in a report on Thursday, July 10th. Melius Research raised shares of Vertiv from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $134.00 to $165.00 in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertiv in a report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Vertiv currently has a consensus rating of "Buy" and an average target price of $144.06.

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.

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