Desjardins Global Asset Management Inc. Makes New $1.82 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Desjardins Global Asset Management Inc. bought a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,917 shares of the company’s stock, valued at approximately $1,821,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in Vertiv by 161.7% in the third quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after purchasing an additional 409 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Vertiv in the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. increased its position in Vertiv by 648.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,500 shares of the company’s stock valued at $35,000 after buying an additional 2,166 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Vertiv during the third quarter valued at $38,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of Vertiv in the fourth quarter worth $42,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on VRT shares. Citigroup lifted their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer initiated coverage on Vertiv in a research report on Friday, April 5th. They issued an “outperform” rating and a $96.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI increased their price objective on Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Mizuho boosted their target price on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.56.

Vertiv Trading Up 2.0 %

Vertiv stock opened at $82.31 on Wednesday. The business has a 50-day simple moving average of $73.29 and a two-hundred day simple moving average of $55.26. Vertiv Holdings Co has a 52-week low of $11.95 and a 52-week high of $88.69. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The company has a market cap of $31.44 billion, a P/E ratio of 69.75, a P/E/G ratio of 1.28 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts predict that Vertiv Holdings Co will post 2.36 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 8.47%.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Corporate insiders own 5.62% of the company’s stock.

Vertiv 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.