Smithbridge Asset Management Inc. DE Invests $9.57 Million in Vertiv Holdings Co (NYSE:VRT)

Smithbridge Asset Management Inc. DE purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 132,604 shares of the company's stock, valued at approximately $9,574,000. Vertiv makes up 1.8% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 17th biggest position.

Other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its holdings in shares of Vertiv by 27.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,367 shares of the company's stock valued at $383,000 after buying an additional 734 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Vertiv by 60.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 5,873 shares of the company's stock valued at $667,000 after buying an additional 2,219 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Vertiv by 67.0% in the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company's stock valued at $1,043,000 after buying an additional 3,682 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Vertiv by 26.2% in the 4th quarter. Stephens Inc. AR now owns 7,163 shares of the company's stock valued at $814,000 after buying an additional 1,485 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Vertiv by 64.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,314 shares of the company's stock valued at $831,000 after buying an additional 2,861 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Insider Transactions at Vertiv

In related 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 value of $5,059,801.89. Following the completion of the sale, the executive vice president now owns 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karsten Winther sold 5,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares of the company's stock, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.

Vertiv Trading Down 3.2%

VRT traded down $3.72 on Friday, hitting $110.78. 5,895,502 shares of the company were exchanged, compared to its average volume of 8,711,215. The firm has a fifty day simple moving average of $93.54 and a two-hundred day simple moving average of $104.14. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. Vertiv Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84. The stock has a market capitalization of $42.22 billion, a PE ratio of 86.55, a price-to-earnings-growth ratio of 1.07 and a beta of 1.73.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The firm's revenue was up 24.2% on a year-over-year basis. Sell-side analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Analyst Ratings Changes

VRT has been the subject of several recent analyst reports. Royal Bank of Canada initiated coverage on Vertiv in a report on Friday, March 7th. They issued an "outperform" rating and a $121.00 price objective for the company. Roth Capital raised Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Barclays cut their price target on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Cowen reaffirmed a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.69.

About Vertiv

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.