CIBC Asset Management Inc Increases Stake in Vertiv Holdings Co (NYSE:VRT)

CIBC Asset Management Inc raised its holdings in Vertiv Holdings Co (NYSE:VRT) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,461 shares of the company’s stock after buying an additional 691 shares during the period. CIBC Asset Management Inc’s holdings in Vertiv were worth $1,339,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Anchor Investment Management LLC purchased a new stake in Vertiv during the 2nd quarter worth about $26,000. Mather Group LLC. increased its stake in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC acquired a new stake in Vertiv in the third quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new position in Vertiv in the third quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Vertiv in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

NYSE:VRT opened at $137.56 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The firm’s fifty day moving average price is $108.75 and its 200 day moving average price is $94.57. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $141.76.

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

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is presently 6.67%.

Wall Street Analyst Weigh In

VRT has been the topic of a number of analyst reports. Oppenheimer raised their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Citigroup boosted their price target on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $138.50.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.01% of the stock is owned by corporate insiders.

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.