Handelsbanken Fonder AB Boosts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Handelsbanken Fonder AB lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 399,996 shares of the company’s stock after purchasing an additional 15,322 shares during the quarter. Handelsbanken Fonder AB owned about 0.11% of Vertiv worth $28,880,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Vertiv by 67.0% in the 4th quarter. Empowered Funds LLC now owns 9,180 shares of the company’s stock valued at $1,043,000 after buying an additional 3,682 shares in the last quarter. Sound View Wealth Advisors Group LLC acquired a new position in shares of Vertiv during the 4th quarter valued at about $1,218,000. Schroder Investment Management Group grew its holdings in shares of Vertiv by 95.3% in the fourth quarter. Schroder Investment Management Group now owns 1,167,536 shares of the company’s stock valued at $135,621,000 after purchasing an additional 569,722 shares during the period. Bedell Frazier Investment Counselling LLC acquired a new stake in Vertiv during the fourth quarter worth about $415,000. Finally, Charles Schwab Investment Management Inc. increased its position in Vertiv by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,746,111 shares of the company’s stock worth $198,376,000 after purchasing an additional 45,917 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity

In related news, 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 transaction of $518,815.00. Following the completion of the transaction, the insider now directly owns 18,847 shares of the company’s stock, valued at $1,777,837.51. The trade was a 22.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, the executive vice president now owns 9,551 shares of the company’s stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.63% of the company’s stock.

Vertiv Stock Performance

Shares of Vertiv stock opened at $108.60 on Wednesday. The stock has a market capitalization of $41.39 billion, a price-to-earnings ratio of 84.84, a price-to-earnings-growth ratio of 1.07 and a beta of 1.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The business has a 50-day moving average of $91.50 and a 200 day moving average of $104.22. Vertiv Holdings Co has a 12 month low of $53.60 and a 12 month high of $155.84.

Vertiv (NYSE:VRT) last issued 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 analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on VRT. Cowen reiterated a “buy” rating on shares of Vertiv in a report on Thursday, April 24th. Roth Capital upgraded Vertiv to a “strong-buy” rating in a report on Monday, April 7th. Evercore ISI reiterated an “outperform” rating and issued a $150.00 price objective (up from $100.00) on shares of Vertiv in a research report on Tuesday, May 27th. Royal Bank of Canada initiated coverage on Vertiv in a research note on Friday, March 7th. They set an “outperform” rating and a $121.00 target price for the company. Finally, Citigroup reduced their target price on Vertiv from $153.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average price target of $124.69.

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.