Summerhill Capital Management lnc. Has $1.98 Million Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Summerhill Capital Management lnc. lessened its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,430 shares of the company's stock after selling 35,730 shares during the period. Vertiv comprises 2.7% of Summerhill Capital Management lnc.'s investment portfolio, making the stock its 14th largest holding. Summerhill Capital Management lnc.'s holdings in Vertiv were worth $1,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of VRT. Colonial Trust Co SC raised its holdings in shares of 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 acquiring an additional 214 shares during the period. Ameriflex Group Inc. acquired a new stake in Vertiv during the 4th quarter valued at $37,000. TD Private Client Wealth LLC lifted its holdings in shares of Vertiv by 150.7% in the fourth quarter. TD Private Client Wealth LLC now owns 371 shares of the company's stock valued at $42,000 after purchasing an additional 223 shares in the last quarter. BNP Paribas acquired a new stake in shares of Vertiv in the fourth quarter worth $45,000. Finally, North Star Investment Management Corp. grew its holdings in shares of 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 buying an additional 412 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 5,500 shares of the 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 now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the transaction, the executive vice president now owns 9,551 shares in the company, valued at $1,106,292.33. This represents 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.

Analyst Ratings Changes

Several brokerages recently issued reports on VRT. Barclays reduced their price objective on Vertiv from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Roth Mkm assumed coverage on shares of Vertiv in a report on Tuesday, April 8th. They set a "buy" rating and a $75.00 price target for the company. Cowen reiterated a "buy" rating on shares of Vertiv in a research note on Thursday, April 24th. The Goldman Sachs Group increased their target price on shares of Vertiv from $106.00 to $122.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Morgan Stanley lowered their price target on shares of Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $126.69.

Vertiv Stock Up 5.1%

VRT stock opened at $122.45 on Wednesday. The stock has a market capitalization of $46.67 billion, a price-to-earnings ratio of 71.19, a price-to-earnings-growth ratio of 1.17 and a beta of 1.73. The company has a 50-day moving average of $101.30 and a two-hundred day moving average of $103.28. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28.

Vertiv (NYSE:VRT - Get Free Report) last announced its 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. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, equities research analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.0375 per share. This is a boost from Vertiv's previous dividend of $0.01. This represents a yield of 0.14%. The ex-dividend date is Monday, June 16th. Vertiv's dividend payout ratio is presently 8.72%.

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.

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