Connor Clark & Lunn Investment Management Ltd. Makes New $9.61 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 84,603 shares of the company’s stock, valued at approximately $9,612,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Vertiv by 68.6% during the 4th quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after purchasing an additional 3,153,932 shares in the last quarter. State Street Corp grew its position in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after purchasing an additional 308,704 shares in the last quarter. Geode Capital Management LLC grew its position in Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Wellington Management Group LLP grew its position in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after purchasing an additional 40,696 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRT has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen boosted their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup boosted their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Morgan Stanley initiated coverage on shares of Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus target price of $136.07.

Vertiv Trading Up 5.3 %

Shares of NYSE:VRT opened at $87.54 on Friday. The stock has a market capitalization of $33.33 billion, a PE ratio of 68.39, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. Vertiv Holdings Co has a 1 year low of $62.40 and a 1 year high of $155.84. The firm has a fifty day moving average price of $111.69 and a 200 day moving average price of $110.68.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. During the same quarter last year, the business posted $0.56 earnings per share. Analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, March 18th. Vertiv’s dividend payout ratio is 11.72%.

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.