Kornitzer Capital Management Inc. KS Has $18.48 Million Holdings in Vertiv Holdings Co. $VRT

Kornitzer Capital Management Inc. KS trimmed its position in shares of Vertiv Holdings Co. (NYSE:VRT) by 11.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,498 shares of the company’s stock after selling 15,384 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Vertiv were worth $18,480,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VRT. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of Vertiv by 1.9% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,020 shares of the company’s stock worth $456,000 after acquiring an additional 55 shares during the period. JBR Co Financial Management Inc raised its position in Vertiv by 0.8% during the third quarter. JBR Co Financial Management Inc now owns 7,825 shares of the company’s stock valued at $1,180,000 after purchasing an additional 65 shares in the last quarter. Plancorp LLC increased its position in Vertiv by 1.3% during the 3rd quarter. Plancorp LLC now owns 5,317 shares of the company’s stock worth $802,000 after purchasing an additional 67 shares in the last quarter. True Wealth Design LLC lifted its stake in Vertiv by 54.0% in the 3rd quarter. True Wealth Design LLC now owns 194 shares of the company’s stock valued at $29,000 after purchasing an additional 68 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Vertiv by 67.6% in the third quarter. Pacer Advisors Inc. now owns 171 shares of the company’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $216.00 price target on shares of Vertiv and gave the stock a “buy” rating in a report on Wednesday, October 15th. KGI Securities raised shares of Vertiv from a “hold” rating to an “outperform” rating in a research note on Thursday, October 23rd. Roth Mkm reaffirmed a “buy” rating and set a $195.00 target price (up from $162.00) on shares of Vertiv in a research report on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price target on Vertiv from $230.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, January 16th. Finally, Citigroup lifted their price objective on Vertiv from $198.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Stock Down 0.9%

Shares of Vertiv stock opened at $180.89 on Tuesday. The stock’s 50-day moving average is $171.03 and its 200 day moving average is $157.50. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The firm has a market cap of $69.16 billion, a price-to-earnings ratio of 68.26, a PEG ratio of 1.12 and a beta of 2.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.43.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, November 25th were issued a $0.0625 dividend. The ex-dividend date was Tuesday, November 25th. This is a positive change from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. Vertiv’s dividend payout ratio is 9.43%.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 5,501 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $170.48, for a total transaction of $937,810.48. Following the transaction, the executive vice president owned 4,050 shares in the company, valued at approximately $690,444. This represents a 57.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.01% of the company’s stock.

About Vertiv

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.