Hartline Investment Corp Takes Position in Vertiv Holdings Co (NYSE:VRT)

Hartline Investment Corp purchased a new stake in Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 134,823 shares of the company’s stock, valued at approximately $6,476,000. Vertiv makes up 1.0% of Hartline Investment Corp’s holdings, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also modified their holdings of VRT. First Horizon Advisors Inc. lifted its position in Vertiv by 161.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after purchasing an additional 409 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Vertiv during the 4th quarter worth about $26,000. Clearstead Advisors LLC bought a new stake in shares of Vertiv during the 3rd quarter worth about $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Vertiv during the 4th quarter worth about $38,000. Finally, TFC Financial Management Inc. bought a new stake in shares of Vertiv during the 4th quarter worth about $42,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertiv

In other news, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Vertiv Stock Performance

Shares of Vertiv stock traded up $5.40 on Wednesday, reaching $84.57. The stock had a trading volume of 28,728,426 shares, compared to its average volume of 7,897,745. The business’s 50-day moving average price is $74.96 and its two-hundred day moving average price is $56.68. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. Vertiv Holdings Co has a fifty-two week low of $12.22 and a fifty-two week high of $94.39. The stock has a market cap of $32.30 billion, a P/E ratio of 71.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its 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. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, sell-side analysts forecast that Vertiv Holdings Co will post 2.36 EPS for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRT. Citigroup boosted their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer began coverage on shares of Vertiv in a report on Friday, April 5th. They issued an “outperform” rating and a $96.00 target price on the stock. Bank of America boosted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Evercore ISI boosted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Mizuho boosted their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.56.

Vertiv 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.