Triasima Portfolio Management inc. Buys Shares of 22,825 Vertiv Holdings Co. (NYSE:VRT)

Triasima Portfolio Management inc. bought a new position in Vertiv Holdings Co. (NYSE:VRT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,825 shares of the company’s stock, valued at approximately $1,648,000.

A number of other hedge funds have also modified their holdings of VRT. Parcion Private Wealth LLC grew its holdings in shares of Vertiv by 32.6% during the first quarter. Parcion Private Wealth LLC now owns 5,627 shares of the company’s stock valued at $406,000 after buying an additional 1,384 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Vertiv by 29.1% during the first quarter. Victory Capital Management Inc. now owns 830,211 shares of the company’s stock valued at $59,941,000 after buying an additional 187,235 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in Vertiv by 0.5% during the first quarter. Kornitzer Capital Management Inc. KS now owns 137,882 shares of the company’s stock valued at $9,955,000 after purchasing an additional 650 shares during the last quarter. Larson Financial Group LLC boosted its position in Vertiv by 114.3% during the first quarter. Larson Financial Group LLC now owns 2,347 shares of the company’s stock valued at $169,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Grange Capital LLC acquired a new stake in Vertiv during the first quarter valued at $452,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the company’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 sale, the insider directly owned 18,847 shares in the company, valued at $1,777,837.51. This represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction on 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 owned 9,551 shares of the company’s stock, valued at $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VRT shares. JPMorgan Chase & Co. boosted their price objective on Vertiv from $100.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Vertiv from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Barclays increased their price objective on Vertiv from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertiv in a report on Friday, July 11th. Finally, Melius raised Vertiv from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $135.65.

Vertiv Price Performance

NYSE:VRT opened at $127.49 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.28 and a current ratio of 1.72. The stock’s 50-day simple moving average is $114.14 and its 200 day simple moving average is $103.78. The company has a market cap of $48.59 billion, a P/E ratio of 74.12, a P/E/G ratio of 1.24 and a beta of 1.75. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $155.84.

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

Vertiv Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 0.14%. This is an increase from Vertiv’s previous dividend of $0.01. Vertiv’s dividend payout ratio is currently 8.72%.

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.