Connor Clark & Lunn Investment Management Ltd. Has $32.76 Million Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)
Connor Clark & Lunn Investment Management Ltd. increased its stake in Vertiv Holdings Co. (NYSE:VRT) by 436.3% in Q1, owning 453,752 shares valued at $32.76 million. Other institutional investors, including Vanguard and UBS, also raised their positions. Vertiv's stock opened at $139.90, with a market cap of $53.32 billion and a recent EPS of $0.95, exceeding estimates. The company recently paid a dividend of $0.0375, up from $0.01, reflecting a yield of 14.0%.
Connor Clark & Lunn Investment Management Ltd. grew its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 436.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 453,752 shares of the company's stock after purchasing an additional 369,149 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Vertiv worth $32,761,000 at the end of the most recent reporting period.
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Several other hedge funds also recently bought and sold shares of VRT. Vanguard Group Inc. increased its position in shares of Vertiv by 3.7% during the first quarter. Vanguard Group Inc. now owns 37,715,159 shares of the company's stock worth $2,723,034,000 after acquiring an additional 1,359,070 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Vertiv by 54.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock worth $263,000,000 after acquiring an additional 812,389 shares in the last quarter. Northern Trust Corp increased its position in shares of Vertiv by 21.9% during the fourth quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after acquiring an additional 487,909 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Vertiv by 370.7% during the fourth quarter. Voloridge Investment Management LLC now owns 607,384 shares of the company's stock worth $69,005,000 after acquiring an additional 478,350 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Vertiv by 52.5% during the fourth quarter. Royal Bank of Canada now owns 1,173,242 shares of the company's stock worth $133,293,000 after acquiring an additional 403,882 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Vertiv news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the sale, the executive vice president owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.63% of the stock is owned by company insiders.
Vertiv Stock Performance
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NYSE VRT opened at $139.90 on Friday. The firm has a 50-day moving average of $125.64 and a 200-day moving average of $104.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The stock has a market cap of $53.32 billion, a PE ratio of 66.94, a P/E/G ratio of 1.23 and a beta of 1.77. 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 posted its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.12. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. Vertiv's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. On average, sell-side analysts anticipate that Vertiv Holdings Co. will post 3.59 EPS for the current year.
Vertiv Increases Dividend
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The firm also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0375 dividend. This is a positive change from Vertiv's previous dividend of $0.01. The ex-dividend date was Monday, June 16th. This represents a yield of 14.0%. Vertiv's dividend payout ratio is presently 7.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Evercore ISI reaffirmed an "outperform" rating on shares of Vertiv in a research report on Thursday, July 10th. Wolfe Research reaffirmed an "outperform" rating and issued a $155.00 target price on shares of Vertiv in a research report on Thursday, July 10th. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research report on Tuesday, July 8th. Finally, UBS Group raised their target price on shares of Vertiv from $135.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.06.
Read Our Latest Stock Analysis on VRT
Vertiv Profile
(Free Report)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.
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