Kennedy Investment Group Buys 2,941 Shares of Vertiv Holdings Co. (NYSE:VRT)

Kennedy Investment Group boosted its position in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,141 shares of the company's stock after purchasing 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRT. Massachusetts Financial Services Co. MA purchased a new stake in shares of Vertiv during the fourth quarter valued at about $597,379,000. Norges Bank purchased a new stake in shares of Vertiv during the fourth quarter worth approximately $391,777,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Vertiv by 136.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock valued at $379,101,000 after purchasing an additional 1,928,275 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,244,780 shares during the period. Finally, Wellington Management Group LLP boosted its holdings 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 purchasing an additional 990,361 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction that occurred 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 now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president now directly owns 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. 2.63% of the stock is currently owned by company insiders.

Vertiv Trading Down 0.5%

Shares of NYSE VRT traded down $0.59 on Wednesday, reaching $121.73. 5,195,979 shares of the company traded hands, compared to its average volume of 8,638,674. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $46.39 billion, a PE ratio of 70.77, a P/E/G ratio of 1.23 and a beta of 1.73. 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 50 day moving average of $101.30 and a 200 day moving average of $103.28.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a net margin of 7.92% and a return on equity of 56.01%. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company posted $0.43 earnings per share. Vertiv's revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

Analyst Ratings Changes

VRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays cut their price target on shares of Vertiv from $100.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Cowen restated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Wall Street Zen raised Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Citigroup increased their price target on shares of Vertiv from $98.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.69.

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.