Carnegie Investment Counsel Buys 1,790 Shares of Vertiv Holdings Co (NYSE:VRT)

Carnegie Investment Counsel increased its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,138 shares of the company’s stock after buying an additional 1,790 shares during the quarter. Carnegie Investment Counsel’s holdings in Vertiv were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Vertiv by 23.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,569 shares of the company’s stock worth $1,882,000 after buying an additional 3,119 shares in the last quarter. Mason & Associates Inc purchased a new position in Vertiv in the fourth quarter worth $343,000. StrongBox Wealth LLC bought a new position in Vertiv in the 4th quarter valued at $210,000. BluePath Capital Management LLC raised its stake in shares of Vertiv by 10.3% during the 4th quarter. BluePath Capital Management LLC now owns 2,272 shares of the company’s stock worth $282,000 after purchasing an additional 212 shares during the period. Finally, HCR Wealth Advisors purchased a new position in shares of Vertiv in the 4th quarter worth about $275,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRT. Barclays began coverage on shares of Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price for the company. Citigroup upped their price target on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer lifted their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.75.

Vertiv Price Performance

Shares of VRT opened at $135.94 on Friday. The firm has a fifty day simple moving average of $126.07 and a two-hundred day simple moving average of $103.50. The firm has a market cap of $51.02 billion, a PE ratio of 90.63, a P/E/G ratio of 0.99 and a beta of 1.63. 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 Holdings Co has a 1-year low of $49.67 and a 1-year high of $145.67.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for 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 was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is owned by corporate insiders.

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.