Hood River Capital Management LLC Has $65.57 Million Stock Position in Vertiv Holdings Co (NYSE:VRT)

Hood River Capital Management LLC cut its holdings in Vertiv Holdings Co (NYSE:VRT) by 50.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 757,391 shares of the company’s stock after selling 773,241 shares during the period. Vertiv makes up approximately 1.4% of Hood River Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Hood River Capital Management LLC owned about 0.20% of Vertiv worth $65,567,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRT. Quadrant Capital Group LLC increased its holdings in shares of Vertiv by 24.7% during the fourth quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock worth $41,000 after purchasing an additional 170 shares during the period. PNC Financial Services Group Inc. raised its holdings in Vertiv by 296.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after acquiring an additional 9,870 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Vertiv during the 4th quarter valued at $1,406,000. Advisory Services Network LLC grew its holdings in shares of Vertiv by 73.8% during the 4th quarter. Advisory Services Network LLC now owns 16,741 shares of the company’s stock worth $804,000 after purchasing an additional 7,106 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Vertiv by 7,167.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 87,210 shares of the company’s stock worth $4,189,000 after purchasing an additional 86,010 shares during the period. 89.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen boosted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $102.13.

Vertiv Stock Performance

NYSE VRT opened at $94.54 on Monday. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $109.27. The stock has a market cap of $35.39 billion, a PE ratio of 90.90, a PEG ratio of 1.08 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm’s fifty day moving average price is $79.49 and its two-hundred day moving average price is $85.45.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, September 17th. Vertiv’s payout ratio is presently 9.62%.

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.