31,495 Shares in Vertiv Holdings Co (NYSE:VRT) Bought by Cornerstone Capital Inc.

Cornerstone Capital Inc. bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,495 shares of the company’s stock, valued at approximately $3,133,000.

Several other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP raised its stake in Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after acquiring an additional 100 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after purchasing an additional 112 shares during the last quarter. Nvwm LLC increased its holdings in Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after purchasing an additional 124 shares during the period. Finally, Callan Family Office LLC lifted its holdings in Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after buying an additional 137 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

Vertiv Trading Up 4.1 %

Shares of VRT traded up $4.37 during mid-day trading on Tuesday, reaching $110.58. The company’s stock had a trading volume of 1,420,950 shares, compared to its average volume of 8,238,568. Vertiv Holdings Co has a 52 week low of $38.68 and a 52 week high of $116.41. The stock has a market cap of $41.51 billion, a PE ratio of 70.81, a P/E/G ratio of 1.16 and a beta of 1.58. The company’s fifty day moving average price is $97.48 and its two-hundred day moving average price is $91.44. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on VRT. Citigroup raised their price target on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group cut their price objective 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. TD Cowen boosted their price target on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.11.

Vertiv Company 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.