Mackenzie Financial Corp Has $3.65 Million Holdings in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Mackenzie Financial Corp reduced its stake in Vertiv Holdings Co. by 51.5%, holding 50,534 shares worth approximately $3.65 million.
• Vertiv recently increased its dividend from $0.01 to $0.0375, resulting in a dividend yield of 14.0% and indicating positive financial performance.
• Analysts have set a consensus price target of $144.06 for Vertiv, with most ratings being "buy" or "outperform" despite a recent stock downturn of 2.7%.

Mackenzie Financial Corp lowered its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 51.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,534 shares of the company's stock after selling 53,653 shares during the period. Mackenzie Financial Corp's holdings in Vertiv were worth $3,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vertiv by 54.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock worth $263,000,000 after acquiring an additional 812,389 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Vertiv by 61.7% in the 4th quarter. Federated Hermes Inc. now owns 1,874,256 shares of the company's stock valued at $212,946,000 after purchasing an additional 715,212 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Vertiv by 21.9% during the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after purchasing an additional 487,909 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Vertiv by 370.7% in the fourth quarter. Voloridge Investment Management LLC now owns 607,384 shares of the company's stock valued at $69,005,000 after buying an additional 478,350 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Vertiv by 52.5% during the fourth quarter. Royal Bank of Canada now owns 1,173,242 shares of the company's stock valued at $133,293,000 after buying an additional 403,882 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. This represents a 82.06% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VRT shares. Mizuho boosted 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. JPMorgan Chase & Co. upped their target price on Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday. Roth Capital raised their price target on Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Morgan Stanley dropped their price objective on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Vertiv in a report on Thursday, July 10th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $144.06.

Vertiv Stock Performance

Shares of NYSE:VRT traded down $1.42 on Monday, reaching $140.17. 6,738,731 shares of the company's stock were exchanged, compared to its average volume of 9,529,347. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The business's 50-day moving average is $122.46 and its two-hundred day moving average is $104.48. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $53.42 billion, a price-to-earnings ratio of 67.07, a PEG ratio of 1.25 and a beta of 1.77.

Vertiv (NYSE:VRT - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

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

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.