Carnegie Investment Counsel Acquires 3,240 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Carnegie Investment Counsel increased its holdings in Vertiv Holdings Co. by 39.8% during the first quarter, acquiring an additional 3,240 shares, raising their total to 11,378 shares valued at approximately $821,000.
• Multiple hedge funds made significant investments in Vertiv, with some increasing their stakes by over 10,000%, indicating strong institutional interest, which now owns 89.92% of the stock.
• Wall Street analysts have boosted their price targets for Vertiv, with JPMorgan raising their target from $100 to $127, and the consensus price target now sits at $136.76, reflecting positive sentiment towards the stock.

Carnegie Investment Counsel lifted its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,378 shares of the company's stock after acquiring an additional 3,240 shares during the period. Carnegie Investment Counsel's holdings in Vertiv were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the 4th quarter valued at about $597,379,000. Norges Bank bought a new stake in Vertiv in the 4th quarter valued at about $391,777,000. Arrowstreet Capital Limited Partnership increased its position in Vertiv by 136.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after buying an additional 1,928,275 shares in the last quarter. Wellington Management Group LLP increased its position in Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after buying an additional 990,361 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in Vertiv by 10,482.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 846,471 shares of the company's stock valued at $96,168,000 after buying an additional 838,472 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Melius Research raised Vertiv from a "hold" rating to a "strong-buy" rating and boosted their target price for the company from $134.00 to $165.00 in a research report on Tuesday, July 8th. Oppenheimer boosted their target price on Vertiv from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Barclays boosted their price objective on Vertiv from $90.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, KGI Securities initiated coverage on Vertiv in a report on Thursday, April 24th. They set a "hold" rating for the company. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $136.76.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the company'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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Liang sold 43,683 shares of the 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 approximately $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

Vertiv Price Performance

Shares of NYSE VRT opened at $137.52 on Friday. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09. The stock's 50 day moving average price is $118.59 and its 200-day moving average price is $104.33. The company has a market capitalization of $52.41 billion, a PE ratio of 79.96, a PEG ratio of 1.30 and a beta of 1.75.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0375 dividend. 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 yield of 0.14%. Vertiv's dividend payout ratio is presently 8.72%.

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.

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