Deepwater Asset Management LLC Grows Stake in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Deepwater Asset Management LLC increased its stake in Vertiv Holdings Co. by 23.0%, owning 159,905 shares valued at approximately $11.5 million, making it the fund's 15th biggest holding.
• Analysts have a consensus target price of $144.06 for Vertiv, with 18 analysts rating it as a buy and two as a strong buy, indicating strong growth potential.
• Vertiv recently reported earnings of $0.95 per share, exceeding expectations and reflecting a 35.1% increase in revenue compared to the previous year.

Deepwater Asset Management LLC grew its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,905 shares of the company's stock after purchasing an additional 29,852 shares during the quarter. Vertiv comprises approximately 4.9% of Deepwater Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Deepwater Asset Management LLC's holdings in Vertiv were worth $11,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VRT. GW&K Investment Management LLC purchased a new position in Vertiv in the first quarter worth $26,000. SouthState Corp purchased a new position in Vertiv in the first quarter worth $27,000. North Star Investment Management Corp. grew its holdings in 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 purchasing an additional 412 shares during the last quarter. Sachetta LLC grew its holdings in Vertiv by 242.0% in the first quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after purchasing an additional 317 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings 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 buying an additional 214 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Evercore ISI reissued an "outperform" rating on shares of Vertiv in a report on Thursday, July 10th. Roth Capital boosted their price objective on shares of Vertiv from $100.00 to $157.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Mizuho boosted their price objective on shares of Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.06.

Insider Transactions at Vertiv

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karsten Winther sold 41,654 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 2.63% of the company's stock.

Vertiv Trading Down 3.6%

NYSE VRT opened at $132.45 on Friday. The company has a market capitalization of $50.58 billion, a PE ratio of 63.37, a P/E/G ratio of 1.21 and a beta of 1.77. The company has a fifty day moving average of $127.77 and a 200 day moving average of $105.01. Vertiv Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. The business had revenue of $2.64 billion during 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 company's revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Research analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were given a $0.0375 dividend. This represents a dividend yield of 14.0%. This is an increase from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. Vertiv's payout ratio is currently 7.18%.

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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