Sit Investment Associates Inc. Has $3.84 Million Position in Vertiv Holdings Co. (NYSE:VRT)

Sit Investment Associates Inc. raised its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,149 shares of the company's stock after purchasing an additional 7,249 shares during the period. Sit Investment Associates Inc.'s holdings in Vertiv were worth $3,837,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. GW&K Investment Management LLC acquired a new position in Vertiv during the first quarter valued at approximately $26,000. SouthState Corp acquired a new position in Vertiv during the first quarter valued at approximately $27,000. North Star Investment Management Corp. grew its holdings in Vertiv by 4,120.0% during the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after purchasing an additional 412 shares during the last quarter. Sachetta LLC grew its holdings in Vertiv by 242.0% during the first quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after purchasing an additional 317 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Upgrades and Downgrades

VRT has been the topic of several analyst reports. Mizuho increased 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. UBS Group increased their price target on Vertiv from $135.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. William Blair began coverage on shares of Vertiv in a research note on Monday, July 28th. They issued an "outperform" rating on the stock. Finally, Cowen restated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Vertiv currently has a consensus rating of "Buy" and a consensus price target of $144.06.

Insiders Place Their Bets

In other Vertiv news, 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 completion of the transaction, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $5,590,383.34. Following the transaction, the insider directly owned 18,848 shares of the company's stock, valued at approximately $2,529,590.08. The trade was a 68.85% 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 Stock Up 0.3%

Shares of VRT stock opened at $132.86 on Friday. The stock has a market cap of $50.74 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $155.84. The stock has a fifty day moving average price of $128.12 and a 200 day moving average price of $105.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35.

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

Vertiv Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders 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 boost from Vertiv's previous dividend of $0.01. This represents a dividend yield of 14.0%. Vertiv's dividend payout ratio (DPR) is 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.

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