Harvest Fund Management Co. Ltd Acquires 5,909 Shares of Vertiv Holdings Co (NYSE:VRT)

Harvest Fund Management Co. Ltd raised its holdings in Vertiv Holdings Co (NYSE:VRT) by 68.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,583 shares of the company’s stock after acquiring an additional 5,909 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Vertiv were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Vertiv during the 4th quarter worth $26,000. First Horizon Advisors Inc. raised its stake in 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 buying an additional 409 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Vertiv in the fourth quarter worth about $38,000. TFC Financial Management Inc. purchased a new position in shares of Vertiv in the fourth quarter worth about $42,000. Finally, Clearstead Advisors LLC purchased a new position in shares of Vertiv in the third quarter worth about $38,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the company’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 sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the company’s 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 disclosure for this sale can be found here. 5.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VRT shares. Bank of America raised their price objective on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Oppenheimer assumed coverage on Vertiv in a report on Friday, April 5th. They set an “outperform” rating and a $96.00 target price on the stock. Mizuho raised their target price on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup raised their price objective on Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.56.

Vertiv Trading Up 6.8 %

NYSE:VRT traded up $5.40 during trading hours on Wednesday, hitting $84.57. The company had a trading volume of 28,393,895 shares, compared to its average volume of 7,883,813. Vertiv Holdings Co has a 1 year low of $12.22 and a 1 year high of $94.39. The company has a 50-day moving average of $74.96 and a 200 day moving average of $56.68. The company has a market cap of $32.30 billion, a P/E ratio of 71.64, a P/E/G ratio of 1.21 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

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

Vertiv Dividend Announcement

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

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.