Kornitzer Capital Management Inc. KS Buys 19,082 Shares of Vertiv Holdings Co (NYSE:VRT)

by · The Markets Daily

Kornitzer Capital Management Inc. KS lifted its stake in shares of Vertiv Holdings Co (NYSE:VRT – Free Report) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,582 shares of the company’s stock after acquiring an additional 19,082 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Vertiv were worth $14,086,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VRT. ORG Partners LLC boosted its position in Vertiv by 25.1% during the third quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after purchasing an additional 92 shares during the period. Allworth Financial LP grew its stake in Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 100 shares during the last quarter. NBC Securities Inc. lifted its position in Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after acquiring an additional 112 shares during the last quarter. Nvwm LLC boosted its holdings in Vertiv by 1.3% during the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after acquiring an additional 124 shares during the period. Finally, Callan Family Office LLC grew its position in shares of Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America increased their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Mizuho increased their price target on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.11.

Read Our Latest Report on Vertiv

Vertiv Price Performance

NYSE VRT traded up $2.67 on Thursday, reaching $123.10. The company’s stock had a trading volume of 1,820,649 shares, compared to its average volume of 8,217,163. Vertiv Holdings Co has a 52 week low of $39.51 and a 52 week high of $124.60. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm has a market cap of $46.20 billion, a PE ratio of 80.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58. The business has a 50-day moving average price of $98.93 and a 200 day moving average price of $91.90.

Vertiv (NYSE:VRT – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. Sell-side analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is 6.67%.

About Vertiv

(Free Report)

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.

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