Mackenzie Financial Corp lifted its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 104,187 shares of the company's stock after purchasing an additional 20,496 shares during the quarter. Mackenzie Financial Corp's holdings in Vertiv were worth $11,837,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP acquired a new position in Vertiv during the 4th quarter worth $307,000. Toronto Dominion Bank raised its stake in Vertiv by 7.1% during the 4th quarter. Toronto Dominion Bank now owns 46,629 shares of the company's stock valued at $5,298,000 after acquiring an additional 3,108 shares during the last quarter. Richmond Investment Services LLC acquired a new stake in shares of Vertiv in the 4th quarter valued at approximately $700,000. Vega Investment Solutions purchased a new position in Vertiv in the 4th quarter valued at approximately $1,625,000. Finally, Sunbelt Securities Inc. grew its position in shares of Vertiv by 13.6% in the fourth quarter. Sunbelt Securities Inc. now owns 15,533 shares of the company's stock valued at $1,804,000 after purchasing an additional 1,862 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on VRT shares. JPMorgan Chase & Co. upped their price objective on Vertiv from $100.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Cowen restated a "buy" rating on shares of Vertiv in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Vertiv from $135.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Roth Capital raised Vertiv to a "strong-buy" rating in a report on Monday, April 7th. Finally, Morgan Stanley cut their price target on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.38.
Read Our Latest Research Report on VRT
Vertiv Stock Down 0.7%
Shares of Vertiv stock traded down $0.73 during midday trading on Friday, hitting $107.74. The company's stock had a trading volume of 6,931,195 shares, compared to its average volume of 8,933,174. The firm has a market capitalization of $41.06 billion, a P/E ratio of 84.17, a PEG ratio of 1.07 and a beta of 1.70. The stock has a 50-day simple moving average of $86.01 and a 200-day simple moving average of $105.45. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a 1-year low of $53.60 and a 1-year high of $155.84.
Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business's quarterly revenue was up 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current year.
Vertiv Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's payout ratio is 8.72%.
Insider Buying and Selling at Vertiv
In other news, insider Karsten Winther sold 5,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.63% of the company's stock.
Vertiv Profile
(
Free Report)
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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