Cornerstone Select Advisors LLC Purchases Shares of 3,897 Vertiv Holdings Co. $VRT

Key Points

• Cornerstone Select Advisors LLC acquired 3,897 shares of Vertiv Holdings Co., valued at approximately $281,000, during the first quarter.
• Vertiv reported a 35.1% year-over-year increase in revenue for the quarter, totaling $2.64 billion, and an EPS of $0.95, exceeding estimates.
• Vertiv recently declared a dividend of $0.0375 per share, representing a yield of 14.0%, an increase from its previous dividend of $0.01.

Cornerstone Select Advisors LLC acquired a new position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,897 shares of the company's stock, valued at approximately $281,000.

A number of other hedge funds also recently made changes to their positions in VRT. GW&K Investment Management LLC purchased a new position in Vertiv in the 1st quarter worth $26,000. SouthState Corp purchased a new position in Vertiv in the 1st quarter worth $27,000. North Star Investment Management Corp. increased its position 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 valued at $30,000 after acquiring an additional 412 shares during the period. Sachetta LLC raised its stake in shares of Vertiv by 242.0% during the first quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after acquiring an additional 317 shares during the last quarter. Finally, Colonial Trust Co SC raised its stake in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after acquiring an additional 214 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Price Performance

Vertiv stock opened at $132.86 on Monday. The firm has a 50-day moving average price of $128.12 and a 200-day moving average price of $105.09. The firm has a market capitalization of $50.74 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77. 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 Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm's revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 14.0%. This is a boost from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is 7.18%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRT. Citigroup upped their price objective on shares of Vertiv from $130.00 to $149.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Mizuho boosted their price target on shares of Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Melius Research upgraded shares of Vertiv from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $134.00 to $165.00 in a research report on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of Vertiv in a research report on Sunday, August 10th. Finally, UBS Group boosted their price target on shares of Vertiv from $135.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $144.06.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 41,654 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the transaction, the insider owned 18,848 shares of the company's stock, valued at approximately $2,529,590.08. This trade represents a 68.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the firm'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 transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.01% of the company's stock.

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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