Kornitzer Capital Management Inc. KS Sells 4,350 Shares of Vertiv Holdings Co (NYSE:VRT)

Kornitzer Capital Management Inc. KS cut its position in Vertiv Holdings Co (NYSE:VRT) by 3.1% in the 4th quarter, according to 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 quarter. Kornitzer Capital Management Inc. KS’s holdings in Vertiv were worth $15,591,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning grew its position in shares of Vertiv by 20.2% in the 3rd quarter. Creative Planning now owns 43,618 shares of the company’s stock valued at $4,340,000 after acquiring an additional 7,341 shares during the period. Blue Trust Inc. grew its holdings in Vertiv by 360.1% during the third quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $332,000 after purchasing an additional 2,611 shares during the period. Raymond James & Associates increased its position in Vertiv by 15.0% during the third quarter. Raymond James & Associates now owns 624,173 shares of the company’s stock worth $62,099,000 after buying an additional 81,434 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in Vertiv by 27.9% in the third quarter. Brown Lisle Cummings Inc. now owns 19,350 shares of the company’s stock valued at $1,925,000 after buying an additional 4,225 shares during the period. Finally, Bluesphere Advisors LLC acquired a new stake in shares of Vertiv in the third quarter valued at approximately $279,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction 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 owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Price Performance

Vertiv stock opened at $108.18 on Tuesday. The firm has a market cap of $40.60 billion, a PE ratio of 72.12, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock’s fifty day moving average price is $122.50 and its two-hundred day moving average price is $109.03. Vertiv Holdings Co has a one year low of $55.00 and a one year high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. During the same period in the previous year, the company earned $0.56 EPS. As a group, research analysts expect that Vertiv Holdings Co will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen upped their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Melius lowered shares of Vertiv from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Oppenheimer increased their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Vertiv has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.