Clark Capital Management Group Inc. Grows Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Clark Capital Management Group Inc. boosted its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,233 shares of the company's stock after buying an additional 8,545 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Vertiv were worth $5,821,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv in the fourth quarter valued at $597,379,000. Norges Bank acquired a new position in shares of Vertiv in the fourth quarter worth approximately $391,777,000. Jennison Associates LLC boosted its holdings in Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after acquiring an additional 3,153,932 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Vertiv by 136.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after purchasing an additional 1,928,275 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRT. Citigroup lowered their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley dropped their price objective on Vertiv from $140.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Roth Mkm began coverage on Vertiv in a research note on Tuesday, April 8th. They set a "buy" rating and a $75.00 target price for the company. Melius Research reissued a "hold" rating and issued a $125.00 price target on shares of Vertiv in a research note on Tuesday, January 28th. Finally, Evercore ISI reduced their price objective on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Vertiv presently has a consensus rating of "Moderate Buy" and an average target price of $120.38.

Vertiv Stock Down 1.6 %

Shares of NYSE VRT traded down $1.57 during trading on Friday, hitting $94.17. The stock had a trading volume of 6,364,741 shares, compared to its average volume of 9,013,115. The firm has a fifty day moving average of $80.47 and a two-hundred day moving average of $106.26. The company has a market capitalization of $35.89 billion, a PE ratio of 73.57, a PEG ratio of 1.07 and a beta of 1.70. 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 Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84.

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

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th were given a $0.0375 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.15 annualized dividend and a yield of 0.16%. Vertiv's dividend payout ratio is currently 8.72%.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total transaction of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at $1,777,837.51. The trade was a 22.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.63% of the company's stock.

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.