Kane Investment Management Inc. Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

Kane Investment Management Inc. bought a new position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,111 shares of the company's stock, valued at approximately $808,000.

Several other hedge funds also recently made changes to their positions in VRT. Vanguard Group Inc. raised its holdings in Vertiv by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock valued at $4,130,415,000 after acquiring an additional 1,244,780 shares in the last quarter. Jennison Associates LLC grew its stake in Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock worth $880,971,000 after buying an additional 3,153,932 shares in the last quarter. Geode Capital Management LLC increased its holdings in Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after buying an additional 99,181 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 4th quarter valued at approximately $597,379,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Vertiv by 25.3% during the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock worth $557,349,000 after acquiring an additional 990,361 shares during the period. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Performance

Shares of Vertiv stock traded up $1.59 on Friday, reaching $73.24. 9,294,650 shares of the company traded hands, compared to its average volume of 9,064,547. 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 $27.89 billion, a PE ratio of 57.22, a PEG ratio of 1.07 and a beta of 1.71. The company has a 50 day moving average of $84.24 and a 200 day moving average of $108.51. Vertiv Holdings Co has a 52 week low of $53.60 and a 52 week high of $155.84.

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

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Tuesday, March 18th. Vertiv's dividend payout ratio (DPR) is presently 11.72%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Vertiv from $135.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Morgan Stanley began coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an "overweight" rating and a $150.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Vertiv from $132.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Roth Mkm initiated coverage on Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 target price for the company. Finally, Evercore ISI reduced their price target on Vertiv from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.94.

About Vertiv

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.