Ceeto Capital Group LLC Invests $817,000 in Vertiv Holdings Co (NYSE:VRT)

Ceeto Capital Group LLC purchased a new position in Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company’s stock, valued at approximately $817,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Coatue Management LLC increased its position in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Norges Bank acquired a new stake in Vertiv during the fourth quarter worth about $185,339,000. Finally, Westfield Capital Management Co. LP increased its position in Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent analyst reports. Oppenheimer raised their price objective on shares of Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI lifted their price target on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. The Goldman Sachs Group dropped their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Mizuho lifted their price target on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Vertiv Stock Up 0.8 %

Shares of VRT stock traded up $0.64 during trading on Friday, reaching $77.12. The company’s stock had a trading volume of 7,834,561 shares, compared to its average volume of 9,546,067. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market capitalization of $28.87 billion, a price-to-earnings ratio of 74.15, a P/E/G ratio of 1.06 and a beta of 1.58. The stock’s 50-day moving average price is $91.90 and its 200 day moving average price is $80.19. Vertiv Holdings Co has a 1-year low of $25.09 and a 1-year high of $109.27.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the transaction, the director now owns 9,324,181 shares in the company, valued at $873,116,308.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Roger Fradin sold 16,667 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total transaction of $1,731,034.62. Following the completion of the sale, the director now owns 218,333 shares in the company, valued at approximately $22,676,065.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Doherty Philip O’ sold 2,511,295 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the sale, the director now owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Insiders sold 3,674,034 shares of company stock worth $354,931,478 over the last 90 days. 5.01% of the stock is owned by insiders.

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.