New England Research & Management Inc. Invests $740,000 in Vertiv Holdings Co (NYSE:VRT)

New England Research & Management Inc. acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,243 shares of the company’s stock, valued at approximately $740,000.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its holdings in shares of Vertiv by 67.0% during the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock worth $1,043,000 after acquiring an additional 3,682 shares in the last quarter. Sound View Wealth Advisors Group LLC purchased a new stake in shares of Vertiv during the 4th quarter worth approximately $1,218,000. Schroder Investment Management Group raised its holdings in shares of Vertiv by 95.3% during the 4th quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company’s stock worth $135,621,000 after acquiring an additional 569,722 shares in the last quarter. Bedell Frazier Investment Counselling LLC purchased a new stake in Vertiv during the 4th quarter valued at $415,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Vertiv by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company’s stock valued at $198,376,000 after buying an additional 45,917 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction dated 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 now owns 9,551 shares of the company’s stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karsten Winther sold 5,500 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the sale, the insider now directly owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VRT. Cowen restated a “buy” rating on shares of Vertiv in a report on Thursday, April 24th. The Goldman Sachs Group increased their price target on Vertiv from $106.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday. KGI Securities began coverage on Vertiv in a report on Thursday, April 24th. They set a “hold” rating on the stock. JPMorgan Chase & Co. increased their price target on Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Evercore ISI restated an “outperform” rating and set a $150.00 price target (up previously from $100.00) on shares of Vertiv in a report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.69.

Vertiv Price Performance

VRT opened at $110.78 on Friday. Vertiv Holdings Co has a 12-month low of $53.60 and a 12-month high of $155.84. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $94.49 and its 200-day simple moving average is $103.99. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 86.55, a PEG ratio of 1.07 and a beta of 1.73.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The business’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.0375 per share. This is an increase from Vertiv’s previous dividend of $0.01. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 0.14%. Vertiv’s dividend payout ratio is presently 8.72%.

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.