Kennedy Investment Group Raises Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Kennedy Investment Group grew its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 20.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,141 shares of the company's stock after acquiring an additional 2,941 shares during the period. Kennedy Investment Group's holdings in Vertiv were worth $1,238,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VRT. Massachusetts Financial Services Co. MA purchased a new stake in shares of Vertiv during the fourth quarter worth about $597,379,000. Norges Bank purchased a new stake in shares of Vertiv during the fourth quarter worth about $391,777,000. Arrowstreet Capital Limited Partnership increased its position in shares of Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after acquiring an additional 1,928,275 shares during the last quarter. Vanguard Group Inc. increased its holdings in Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after purchasing an additional 990,361 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

Shares of NYSE:VRT opened at $118.69 on Friday. The company has a market cap of $45.23 billion, a PE ratio of 69.01, a P/E/G ratio of 1.19 and a beta of 1.73. The firm has a 50-day simple moving average of $99.40 and a 200 day simple moving average of $103.49. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week 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.

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

Vertiv Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.0375 per share. This represents a yield of 0.14%. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date is Monday, June 16th. Vertiv's payout ratio is presently 8.72%.

Wall Street Analysts Forecast Growth

VRT has been the topic of several analyst reports. Roth Capital upgraded Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Evercore ISI restated an "outperform" rating and issued a $150.00 price target (up previously from $100.00) on shares of Vertiv in a research note on Tuesday, May 27th. KGI Securities began coverage on shares of Vertiv in a research report on Thursday, April 24th. They issued a "hold" rating for the company. Barclays dropped their target price on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Finally, Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $126.69.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on 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 sale, the executive vice president now directly owns 9,551 shares in the company, valued at $1,106,292.33. The trade was 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 company insiders.

Vertiv Company 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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