Desjardins Global Asset Management Inc. Makes New $1.82 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Desjardins Global Asset Management Inc. acquired a new stake in Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 37,917 shares of the company’s stock, valued at approximately $1,821,000.

A number of other institutional investors have also modified their holdings of the business. First Horizon Advisors Inc. lifted its position in Vertiv by 161.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after acquiring an additional 409 shares during the period. TFC Financial Management Inc. acquired a new stake in shares of Vertiv during the fourth quarter worth $42,000. Clearstead Advisors LLC purchased a new position in Vertiv in the 3rd quarter valued at $38,000. Huntington National Bank raised its position in Vertiv by 299.1% during the 3rd quarter. Huntington National Bank now owns 1,329 shares of the company’s stock worth $49,000 after buying an additional 996 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Vertiv in the 4th quarter worth $70,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at $3,641,311.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Corporate insiders own 5.62% of the company’s stock.

Vertiv Price Performance

VRT opened at $82.31 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The stock has a market capitalization of $31.44 billion, a PE ratio of 69.75, a P/E/G ratio of 1.28 and a beta of 1.59. Vertiv Holdings Co has a 1 year low of $11.95 and a 1 year high of $88.69. The company’s 50 day simple moving average is $73.29 and its 200 day simple moving average is $55.26.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.36 EPS for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is currently 8.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRT shares. Bank of America increased their target price on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Evercore ISI raised their target price on Vertiv from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer started coverage on shares of Vertiv in a research note on Friday, April 5th. They issued an “outperform” rating and a $96.00 price objective for the company. Finally, Citigroup upped their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average target price of $74.56.

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.