Sierra Summit Advisors LLC Decreases Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Sierra Summit Advisors LLC has reduced its stake in Vertiv Holdings Co. by 3.0% during the first quarter, owning approximately 90,373 shares valued at $6.525 million after selling 2,763 shares.
• Despite Sierra's decrease, other hedge funds such as Ibex Wealth Advisors and Viking Fund Management LLC increased their stakes in Vertiv, indicating varying investment strategies among institutional investors.
• Vertiv recently reported $0.95 per share in earnings, surpassing estimates, and announced a dividend increase with a yield of 14.0%, reflecting strong financial performance and shareholder returns.

Sierra Summit Advisors LLC reduced its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,373 shares of the company's stock after selling 2,763 shares during the quarter. Vertiv comprises approximately 1.4% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 28th largest position. Sierra Summit Advisors LLC's holdings in Vertiv were worth $6,525,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ibex Wealth Advisors raised its stake in Vertiv by 10.5% in the 1st quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock valued at $5,324,000 after purchasing an additional 6,989 shares during the last quarter. Gallo Partners LP acquired a new position in Vertiv in the 4th quarter valued at $1,826,000. Viking Fund Management LLC raised its stake in Vertiv by 123.5% in the 1st quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock valued at $2,744,000 after purchasing an additional 21,000 shares during the last quarter. Outlook Wealth Advisors LLC acquired a new position in Vertiv in the 1st quarter valued at $475,000. Finally, Balboa Wealth Partners raised its stake in Vertiv by 68.9% in the 1st quarter. Balboa Wealth Partners now owns 29,408 shares of the company's stock valued at $2,123,000 after purchasing an additional 12,001 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Performance

Shares of Vertiv stock opened at $139.90 on Friday. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The business's fifty day simple moving average is $125.64 and its 200-day simple moving average is $105.00. The firm has a market cap of $53.32 billion, a PE ratio of 66.94, a price-to-earnings-growth ratio of 1.23 and a beta of 1.77. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93.

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

Vertiv Increases Dividend

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

Analyst Ratings Changes

Several research firms recently commented on VRT. William Blair initiated coverage on Vertiv in a research note on Monday, July 28th. They issued an "outperform" rating for the company. KGI Securities initiated coverage on Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Wall Street Zen upgraded Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. UBS Group upped their target price on Vertiv from $135.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Melius Research upgraded Vertiv from a "hold" rating to a "strong-buy" rating and upped their target price for the company from $134.00 to $165.00 in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $144.06.

Insider Activity

In related news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.63% of the company's stock.

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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