CIBC Asset Management Inc Increases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

CIBC Asset Management Inc grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,279 shares of the company’s stock after purchasing an additional 1,818 shares during the period. CIBC Asset Management Inc’s holdings in Vertiv were worth $1,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SOA Wealth Advisors LLC. acquired a new position in shares of Vertiv in the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora purchased a new position in Vertiv in the 4th quarter valued at approximately $30,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv in the third quarter worth $30,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Vertiv in the fourth quarter valued at $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Down 8.5 %

NYSE VRT opened at $95.92 on Friday. The firm’s fifty day moving average price is $120.90 and its 200 day moving average price is $109.46. Vertiv Holdings Co has a 12 month low of $61.25 and a 12 month high of $155.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The company has a market capitalization of $36.00 billion, a price-to-earnings ratio of 74.93, a price-to-earnings-growth ratio of 1.10 and a beta of 1.64.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter last year, the business earned $0.56 EPS. On average, sell-side analysts expect that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertiv news, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This trade represents a 60.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VRT shares. Melius Research reissued a “hold” rating and set a $125.00 target price on shares of Vertiv in a research note on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. UBS Group started coverage on shares of Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target for the company. Finally, Mizuho increased their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

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.