Praxis Investment Management Inc. Raises Position in Vertiv Holdings Co. (NYSE:VRT)

Praxis Investment Management Inc. increased its stake in Vertiv Holdings Co. (NYSE:VRT) by 59.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,130 shares of the company’s stock after buying an additional 4,540 shares during the quarter. Praxis Investment Management Inc.’s holdings in Vertiv were worth $876,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Mizuho Securities Co. Ltd. acquired a new stake in Vertiv in the first quarter valued at approximately $43,000. PFG Investments LLC grew its holdings in Vertiv by 44.3% during the 1st quarter. PFG Investments LLC now owns 7,836 shares of the company’s stock valued at $566,000 after purchasing an additional 2,404 shares in the last quarter. Rockline Wealth Management LLC purchased a new stake in Vertiv during the 1st quarter worth $922,000. Cottage Street Advisors LLC lifted its holdings in Vertiv by 2.1% in the 1st quarter. Cottage Street Advisors LLC now owns 14,974 shares of the company’s stock worth $1,081,000 after buying an additional 309 shares in the last quarter. Finally, Congress Park Capital LLC purchased a new position in Vertiv in the 1st quarter valued at about $435,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on VRT shares. Roth Capital raised Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Royal Bank Of Canada assumed coverage on Vertiv in a report on Friday, March 7th. They set an “outperform” rating and a $121.00 price objective on the stock. KGI Securities started coverage on Vertiv in a research note on Thursday, April 24th. They set a “hold” rating for the company. Wall Street Zen upgraded shares of Vertiv from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $100.00 to $127.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.69.

Vertiv Stock Performance

Shares of NYSE VRT opened at $118.69 on Friday. The stock has a market capitalization of $45.23 billion, a P/E ratio of 69.01, a P/E/G ratio of 1.19 and a beta of 1.73. The firm’s 50-day moving average price is $99.40 and its two-hundred day moving average price is $103.49. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84. The company has a quick ratio of 1.28, a current ratio of 1.72 and a debt-to-equity ratio of 1.09.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be given a $0.0375 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Vertiv’s previous dividend of $0.01. This represents a yield of 0.14%. Vertiv’s dividend payout ratio (DPR) is currently 8.72%.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $115.83, for a total value of $5,059,801.89. Following the sale, the executive vice president now directly owns 9,551 shares in the company, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karsten Winther sold 5,500 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares of the company’s stock, valued at $1,777,837.51. This trade represents a 22.59% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by insiders.

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.