Peregrine Investment Management Inc. Makes New $4.23 Million Investment in Vertiv Holdings Co (NYSE:VRT)

Peregrine Investment Management Inc. acquired a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,190 shares of the company's stock, valued at approximately $4,225,000. Vertiv comprises 2.5% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors have also recently modified their holdings of VRT. Jennison Associates LLC raised its stake in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company's stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company's stock worth $389,548,000 after purchasing an additional 2,860,181 shares during the last quarter. Castle Hook Partners LP raised its stake in shares of Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company's stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Vertiv in the third quarter worth about $110,517,000. Finally, Blue Whale Capital LLP purchased a new position in shares of Vertiv in the third quarter worth about $93,481,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup lifted their price target on Vertiv from $141.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Barclays reduced their price target on Vertiv from $142.00 to $131.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Melius cut Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research report on Tuesday, January 28th. Melius Research reiterated a "hold" rating and set a $125.00 price target on shares of Vertiv in a research report on Tuesday, January 28th. Finally, Mizuho lifted their price target on Vertiv from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.57.

Vertiv Price Performance

Shares of Vertiv stock traded down $2.32 on Wednesday, reaching $107.64. The company's stock had a trading volume of 5,910,509 shares, compared to its average volume of 10,084,799. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock has a 50-day moving average price of $122.27 and a 200-day moving average price of $109.31. The company has a market capitalization of $40.40 billion, a P/E ratio of 84.10, a PEG ratio of 1.10 and a beta of 1.64. Vertiv Holdings Co has a 52-week low of $55.00 and a 52-week high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 69.69% and a net margin of 6.19%. During the same period last year, the firm earned $0.56 EPS. Analysts expect that Vertiv Holdings Co will post 3.58 EPS for the current year.

Insider Transactions at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares of the company's stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,180 shares of company stock valued at $20,997,311 over the last ninety days. 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.