Cornerstone Select Advisors LLC Invests $281,000 in Vertiv Holdings Co. $VRT

Cornerstone Select Advisors LLC acquired a new position in Vertiv Holdings Co. (NYSE:VRT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,897 shares of the company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP boosted its stake in Vertiv by 76.5% in the 1st quarter. Korea Investment CORP now owns 615,888 shares of the company’s stock worth $44,467,000 after purchasing an additional 266,992 shares in the last quarter. Cladis Investment Advisory LLC acquired a new stake in Vertiv in the 1st quarter worth approximately $893,000. Qtron Investments LLC boosted its stake in Vertiv by 82.4% in the 1st quarter. Qtron Investments LLC now owns 8,222 shares of the company’s stock worth $594,000 after purchasing an additional 3,714 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its stake in Vertiv by 34.0% in the 1st quarter. Watts Gwilliam & Co. LLC now owns 19,707 shares of the company’s stock worth $1,423,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Vertiv by 166.2% in the 1st quarter. Brooklyn Investment Group now owns 1,307 shares of the company’s stock worth $94,000 after purchasing an additional 816 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 41,654 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the completion of the sale, the insider owned 18,848 shares of the company’s stock, valued at $2,529,590.08. This represents a 68.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the sale, the executive vice president directly owned 9,551 shares of the company’s stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

VRT has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Vertiv from $143.00 to $162.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Cowen reiterated a “buy” rating on shares of Vertiv in a research note on Thursday, April 24th. Wolfe Research reiterated an “outperform” rating and issued a $155.00 target price on shares of Vertiv in a research note on Thursday, July 10th. Oppenheimer lifted their target price on shares of Vertiv from $140.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Roth Capital lifted their price objective on shares of Vertiv from $100.00 to $157.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.06.

Vertiv Price Performance

NYSE:VRT opened at $132.86 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.74 and a quick ratio of 1.35. The firm has a market cap of $50.74 billion, a price-to-earnings ratio of 63.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77. The company has a 50 day moving average price of $128.12 and a 200-day moving average price of $105.09. Vertiv Holdings Co. has a 1-year low of $53.60 and a 1-year high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.83 by $0.12. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. Equities research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0375 dividend. This represents a yield of 14.0%. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv’s previous dividend of $0.01. Vertiv’s payout ratio is presently 7.18%.

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.