Viking Fund Management LLC Increases Stake in Vertiv Holdings Co (NYSE:VRT)

Viking Fund Management LLC raised its stake in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 123.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,000 shares of the company's stock after buying an additional 21,000 shares during the quarter. Viking Fund Management LLC's holdings in Vertiv were worth $2,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC increased its stake in Vertiv by 2.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 3,695 shares of the company's stock worth $420,000 after acquiring an additional 85 shares during the last quarter. Horizon Investment Services LLC grew its holdings in shares of Vertiv by 4.1% in the fourth quarter. Horizon Investment Services LLC now owns 2,410 shares of the company's stock worth $274,000 after purchasing an additional 95 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in shares of Vertiv by 3.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,226 shares of the company's stock valued at $367,000 after acquiring an additional 97 shares during the period. Utah Retirement Systems increased its holdings in Vertiv by 0.3% during the 4th quarter. Utah Retirement Systems now owns 39,300 shares of the company's stock valued at $4,465,000 after purchasing an additional 100 shares during the period. Finally, Wahed Invest LLC raised its holdings in shares of Vertiv by 1.2% during the fourth quarter. Wahed Invest LLC now owns 8,798 shares of the company's stock valued at $1,000,000 after acquiring an additional 105 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

Shares of VRT stock traded down $0.59 during trading hours on Thursday, hitting $112.26. The stock had a trading volume of 4,799,021 shares, compared to its average volume of 8,836,777. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 87.70, a PEG ratio of 1.07 and a beta of 1.70. Vertiv Holdings Co has a one year low of $53.60 and a one year high of $155.84. The stock's 50-day moving average price is $88.38 and its two-hundred day moving average price is $105.12. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. Equities analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were paid a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv's dividend payout ratio is presently 8.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cowen restated a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $150.00 price objective (up from $100.00) on shares of Vertiv in a research report on Tuesday, May 27th. KGI Securities assumed coverage on shares of Vertiv in a report on Thursday, April 24th. They set a "hold" rating on the stock. Morgan Stanley cut their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Roth Capital raised shares of Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertiv presently has a consensus rating of "Moderate Buy" and an average price target of $122.38.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the business'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 now directly owns 18,847 shares of the company's stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.