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

Hartline Investment Corp purchased a new stake in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 134,823 shares of the company’s stock, valued at approximately $6,476,000. Vertiv accounts for 1.0% of Hartline Investment Corp’s investment portfolio, making the stock its 21st largest position.

A number of other large investors have also recently modified their holdings of the company. CWM LLC raised its stake in Vertiv by 90.5% in the third quarter. CWM LLC now owns 4,231 shares of the company’s stock worth $157,000 after buying an additional 2,010 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Vertiv by 30.0% during the third quarter. Global Retirement Partners LLC now owns 1,588 shares of the company’s stock worth $61,000 after purchasing an additional 366 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Vertiv during the third quarter worth $3,184,000. Avior Wealth Management LLC acquired a new position in shares of Vertiv during the third quarter worth $331,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Vertiv by 1.5% during the third quarter. Exchange Traded Concepts LLC now owns 121,592 shares of the company’s stock worth $4,523,000 after purchasing an additional 1,752 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRT. Evercore ISI upped their price target on Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Citigroup upped their target price on Vertiv from $69.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on Vertiv from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Mizuho upped their target price on Vertiv from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer assumed coverage on Vertiv in a research report on Friday, April 5th. They issued an “outperform” rating and a $96.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.56.

Vertiv Price Performance

Shares of VRT stock traded up $5.40 during mid-day trading on Wednesday, hitting $84.57. 28,728,426 shares of the stock were exchanged, compared to its average volume of 7,897,745. The firm has a fifty day moving average of $74.96 and a 200 day moving average of $56.68. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. Vertiv Holdings Co has a 52-week low of $12.22 and a 52-week high of $94.39. The company has a market cap of $32.30 billion, a PE ratio of 71.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59.

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

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

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 value of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is 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.