Vertiv Holdings Co (NYSE:VRT) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Vertiv Holdings Co (NYSE:VRT) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,279 shares of the company’s stock after purchasing an additional 1,818 shares during the period. CIBC Asset Management Inc’s holdings in Vertiv were worth $1,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VRT. SOA Wealth Advisors LLC. acquired a new stake in Vertiv in the 4th quarter valued at $26,000. Global Trust Asset Management LLC purchased a new position in Vertiv during the third quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its position in shares of Vertiv by 200.0% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Vertiv during the third quarter worth about $30,000. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Vertiv during the fourth quarter worth about $30,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Oppenheimer lifted their price objective on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Melius lowered Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Tuesday, January 28th. Melius Research reissued a “hold” rating and issued a $125.00 price objective on shares of Vertiv in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group increased their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Vertiv Stock Performance

NYSE:VRT opened at $95.92 on Friday. The company’s 50-day moving average is $120.90 and its two-hundred day moving average is $109.46. Vertiv Holdings Co has a 1-year low of $61.25 and a 1-year high of $155.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 1.10 and a beta of 1.64.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same period in the previous year, the firm earned $0.56 EPS. Analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.

Insider Activity

In related news, Director Jan Van Dokkum sold 38,647 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $3,409,750. The trade was a 60.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.