Chase Investment Counsel Corp Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

Chase Investment Counsel Corp lessened its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 21.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,289 shares of the company’s stock after selling 16,864 shares during the period. Vertiv comprises about 2.1% of Chase Investment Counsel Corp’s holdings, making the stock its 11th biggest position. Chase Investment Counsel Corp’s holdings in Vertiv were worth $6,197,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter worth $29,000. Anchor Investment Management LLC bought a new position in Vertiv during the second quarter worth about $26,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv in the third quarter worth about $30,000. Mather Group LLC. raised its position in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at approximately $36,000. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRT. The Goldman Sachs Group lowered their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Mizuho increased their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI lifted their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, TD Cowen upped their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Down 2.4 %

Shares of NYSE:VRT opened at $123.81 on Wednesday. The firm has a fifty day moving average of $102.48 and a 200 day moving average of $93.08. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $130.30. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a market capitalization of $46.47 billion, a PE ratio of 82.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.08%. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Vertiv Company 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.