Carnegie Investment Counsel Buys New Stake in Vertiv Holdings Co (NYSE:VRT)

Carnegie Investment Counsel purchased a new position in Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,489 shares of the company’s stock, valued at approximately $302,000.

A number of other large investors have also made changes to their positions in VRT. GAMMA Investing LLC increased its holdings in shares of Vertiv by 22.3% in the first quarter. GAMMA Investing LLC now owns 653 shares of the company’s stock valued at $53,000 after purchasing an additional 119 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Vertiv by 33.2% in the first quarter. Lindbrook Capital LLC now owns 550 shares of the company’s stock worth $45,000 after buying an additional 137 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after acquiring an additional 170 shares during the period. Farmers & Merchants Investments Inc. raised its position in Vertiv by 66.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VRT. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. The Goldman Sachs Group dropped their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen raised their target price on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and a consensus target price of $96.22.

Vertiv Stock Down 2.6 %

Shares of NYSE VRT traded down $2.06 during midday trading on Tuesday, hitting $76.82. The company’s stock had a trading volume of 4,757,699 shares, compared to its average volume of 8,783,396. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 73.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $33.65 and a 1 year high of $109.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.98. The business’s fifty day simple moving average is $84.26 and its two-hundred day simple moving average is $82.62.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, June 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the transaction, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.01% 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.