Harvest Fund Management Co. Ltd Has $3.42 Million Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Vertiv Holdings Co. by 4.1%, acquiring an additional 1,881 shares, bringing their total holdings to 47,343 shares, valued at approximately $3.42 million.
• Several institutional investors, including CIBC Private Wealth Group LLC and Federated Hermes Inc., significantly boosted their stakes in Vertiv during the fourth quarter, with CIBC increasing its holdings by an impressive 10,482.2%.
• Vertiv recently declared a dividend increase from $0.01 to $0.0375 per share, resulting in a 0.14% yield, reflecting a solid return on investment for its shareholders.

Harvest Fund Management Co. Ltd grew its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,343 shares of the company's stock after purchasing an additional 1,881 shares during the period. Harvest Fund Management Co. Ltd's holdings in Vertiv were worth $3,418,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Vertiv by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after purchasing an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the fourth quarter valued at $597,379,000. Wellington Management Group LLP raised its stake in shares of Vertiv by 25.3% during the fourth quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after purchasing an additional 990,361 shares in the last quarter. Northern Trust Corp raised its position in Vertiv by 21.9% in the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after acquiring an additional 487,909 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Vertiv by 15.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,404,712 shares of the company's stock worth $273,199,000 after acquiring an additional 327,900 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Down 2.7%

Vertiv stock traded down $3.94 during midday trading on Friday, hitting $141.66. 9,578,546 shares of the stock were exchanged, compared to its average volume of 9,532,384. The firm has a market cap of $53.99 billion, a P/E ratio of 67.78, a P/E/G ratio of 1.34 and a beta of 1.75. 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 Holdings Co. has a 1 year low of $53.60 and a 1 year high of $155.84. The company has a 50 day moving average price of $121.71 and a two-hundred day moving average price of $104.78.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 56.24%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $0.67 EPS. Vertiv's revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts predict that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the sale, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the company's stock in a transaction on 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 owned 9,551 shares of the company's stock, valued at approximately $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 2.63% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VRT. Bank of America upped their price target on Vertiv from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Roth Capital upped their price target on Vertiv from $100.00 to $157.00 and gave the company a "buy" rating in a research report on Tuesday. Roth Mkm started coverage on Vertiv in a report on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price on the stock. Mizuho raised their price target on Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Vertiv in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Vertiv has a consensus rating of "Moderate Buy" and an average price target of $144.06.

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.