AGF Management Ltd. Buys 25,854 Shares of Vertiv Holdings Co (NYSE:VRT)

AGF Management Ltd. increased its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 288,965 shares of the company’s stock after acquiring an additional 25,854 shares during the quarter. AGF Management Ltd.’s holdings in Vertiv were worth $25,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRT. Norges Bank bought a new position in Vertiv during the fourth quarter valued at $185,339,000. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Coatue Management LLC lifted its position in Vertiv by 19.5% during the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Vanguard Group Inc. lifted its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Finally, Castle Hook Partners LP bought a new position in Vertiv during the first quarter valued at $135,987,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Trading Up 9.2 %

VRT stock opened at $82.39 on Thursday. The company has a market capitalization of $30.84 billion, a PE ratio of 79.22, a P/E/G ratio of 0.94 and a beta of 1.58. Vertiv Holdings Co has a 12 month low of $34.60 and a 12 month high of $109.27. The firm’s 50-day moving average is $80.01 and its 200 day moving average is $84.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. On average, research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Analyst Ratings Changes

VRT has been the subject of several research reports. Bank of America increased their price objective on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen increased their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group reduced their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $96.22.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

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.