Kornitzer Capital Management Inc. KS Cuts Position in Vertiv Holdings Co (NYSE:VRT)

Kornitzer Capital Management Inc. KS reduced its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,232 shares of the company's stock after selling 4,350 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Vertiv were worth $15,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SOA Wealth Advisors LLC. acquired a new stake in Vertiv in the 4th quarter valued at about $26,000. Global Trust Asset Management LLC acquired a new stake in Vertiv in the third quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in Vertiv by 200.0% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Vertiv in the 3rd quarter valued at approximately $30,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Vertiv in the 4th quarter valued at $30,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays lowered their target price on shares of Vertiv from $142.00 to $131.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Fox Advisors initiated coverage on Vertiv in a report on Monday, January 6th. They issued an "equal weight" rating on the stock. 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, November 19th. Evercore ISI reduced their price objective on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. Finally, Melius Research restated a "hold" rating and issued a $125.00 target price on shares of Vertiv in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Vertiv presently has an average rating of "Moderate Buy" and an average price target of $138.57.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 86,619 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were 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 in the company, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares of the company's stock, valued at $3,409,750. This represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company's stock.

Vertiv Stock Performance

Shares of NYSE:VRT traded down $8.91 on Friday, reaching $95.92. The company's stock had a trading volume of 15,613,964 shares, compared to its average volume of 10,219,645. Vertiv Holdings Co has a 52-week low of $61.25 and a 52-week high of $155.84. The stock has a market capitalization of $36.00 billion, a P/E ratio of 74.93, a PEG ratio of 1.10 and a beta of 1.64. The stock's 50-day moving average is $120.90 and its two-hundred day moving average is $109.46. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT - Get Free Report) last posted 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 return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 3.59 EPS for the current year.

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.