Chase Investment Counsel Corp Has $3.69 Million Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Chase Investment Counsel Corp lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,926 shares of the company’s stock after selling 1,567 shares during the period. Vertiv accounts for 1.6% of Chase Investment Counsel Corp’s portfolio, making the stock its 18th largest holding. Chase Investment Counsel Corp’s holdings in Vertiv were worth $3,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of Vertiv by 161.7% in the third quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after acquiring an additional 409 shares during the period. GAMMA Investing LLC bought a new stake in shares of Vertiv in the fourth quarter valued at approximately $26,000. Clearstead Advisors LLC bought a new stake in shares of Vertiv in the third quarter valued at approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Vertiv in the fourth quarter valued at approximately $38,000. Finally, TFC Financial Management Inc. bought a new stake in shares of Vertiv in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of NYSE VRT traded down $0.13 during midday trading on Monday, reaching $93.36. 5,885,639 shares of the company traded hands, compared to its average volume of 8,118,036. Vertiv Holdings Co has a 12 month low of $14.27 and a 12 month high of $95.32. The firm has a market cap of $35.66 billion, a PE ratio of 89.78, a PEG ratio of 1.44 and a beta of 1.59. 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’s 50-day simple moving average is $76.51 and its 200-day simple moving average is $57.70.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Vertiv Holdings Co will post 2.38 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho increased their price objective on Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer raised their target price on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America raised their target price on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Citigroup raised their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI raised their target price on Vertiv from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.11.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were 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 Company 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.