Chase Investment Counsel Corp Sells 16,864 Shares of Vertiv Holdings Co (NYSE:VRT)

Chase Investment Counsel Corp cut its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,289 shares of the company’s stock after selling 16,864 shares during the quarter. Vertiv makes up approximately 2.1% of Chase Investment Counsel Corp’s portfolio, making the stock its 11th biggest position. Chase Investment Counsel Corp’s holdings in Vertiv were worth $6,197,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC lifted its stake in shares of Vertiv by 25.1% in the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after acquiring an additional 92 shares during the period. Allworth Financial LP lifted its position in shares of Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the period. NBC Securities Inc. lifted its position in shares of Vertiv by 0.9% in the 3rd 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 period. Nvwm LLC boosted its stake in shares of Vertiv by 1.3% in the 3rd 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 last quarter. Finally, Callan Family Office LLC increased its position in shares of Vertiv by 0.9% during the third 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. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 2.4 %

Shares of NYSE VRT opened at $123.81 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The company has a 50-day moving average price of $102.48 and a 200-day moving average price of $93.08. The stock has a market capitalization of $46.47 billion, a P/E ratio of 82.54, a P/E/G ratio of 1.38 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $130.30.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 55.33% and a net margin of 7.72%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.08%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Oppenheimer increased their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho lifted their price objective on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has a consensus rating of “Buy” and a consensus price target of $122.11.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the 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 owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.01% of the company’s stock.

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.