Korea Investment CORP Acquires 266,992 Shares of Vertiv Holdings Co. $VRT

Key Points

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Korea Investment CORP lifted its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 76.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 615,888 shares of the company's stock after acquiring an additional 266,992 shares during the period. Korea Investment CORP owned 0.16% of Vertiv worth $44,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Cladis Investment Advisory LLC bought a new position in shares of Vertiv in the 1st quarter valued at about $893,000. Qtron Investments LLC lifted its stake in Vertiv by 82.4% in the first quarter. Qtron Investments LLC now owns 8,222 shares of the company's stock worth $594,000 after purchasing an additional 3,714 shares during the last quarter. Watts Gwilliam & Co. LLC lifted its stake in Vertiv by 34.0% in the first quarter. Watts Gwilliam & Co. LLC now owns 19,707 shares of the company's stock worth $1,423,000 after purchasing an additional 5,000 shares during the last quarter. Brooklyn Investment Group lifted its stake in Vertiv by 166.2% in the first quarter. Brooklyn Investment Group now owns 1,307 shares of the company's stock worth $94,000 after purchasing an additional 816 shares during the last quarter. Finally, Affinity Investment Advisors LLC lifted its stake in Vertiv by 19.2% in the first quarter. Affinity Investment Advisors LLC now owns 3,076 shares of the company's stock worth $222,000 after purchasing an additional 496 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction on 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 completion of the sale, the insider directly owned 18,848 shares in the company, valued at approximately $2,529,590.08. The trade was a 68.85% 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 stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the sale, the executive vice president owned 9,551 shares of the company's stock, valued at $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 5.01% of the company's stock.

Vertiv Price Performance

NYSE VRT opened at $135.60 on Tuesday. The firm's fifty day simple moving average is $128.59 and its two-hundred day simple moving average is $105.22. 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. The firm has a market capitalization of $51.78 billion, a P/E ratio of 64.88, a P/E/G ratio of 1.17 and a beta of 1.77.

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

Vertiv Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $127.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley reissued an "overweight" rating on shares of Vertiv in a report on Sunday, August 10th. Wolfe Research reissued an "outperform" rating and set a $155.00 price objective on shares of Vertiv in a report on Thursday, July 10th. Oppenheimer lifted their price objective on shares of Vertiv from $140.00 to $151.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Roth Capital lifted 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. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Vertiv has a consensus rating of "Buy" and a consensus target price of $144.06.

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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