Empowered Funds LLC Has $51.53 Million Position in Vertiv Holdings Co. $VRT

Empowered Funds LLC grew its stake in Vertiv Holdings Co. (NYSE:VRT) by 170.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,635 shares of the company’s stock after acquiring an additional 129,661 shares during the quarter. Empowered Funds LLC’s holdings in Vertiv were worth $51,528,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VRT. The Manufacturers Life Insurance Company increased its stake in Vertiv by 583.3% in the first quarter. The Manufacturers Life Insurance Company now owns 213,991 shares of the company’s stock valued at $53,622,000 after purchasing an additional 182,675 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Vertiv by 10.5% during the first quarter. Quantinno Capital Management LP now owns 168,512 shares of the company’s stock worth $42,226,000 after purchasing an additional 16,011 shares in the last quarter. ABS Direct Equity Fund LLC bought a new position in shares of Vertiv during the first quarter worth $150,000. Family Manage LLC grew its holdings in shares of Vertiv by 16.6% in the 1st quarter. Family Manage LLC now owns 2,223 shares of the company’s stock valued at $557,000 after buying an additional 317 shares during the period. Finally, Gateway Wealth Partners LLC acquired a new position in shares of Vertiv in the 1st quarter valued at $519,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Price Performance

NYSE:VRT opened at $287.55 on Tuesday. The stock’s 50 day moving average price is $312.19 and its two-hundred day moving average price is $275.53. Vertiv Holdings Co. has a 12-month low of $118.70 and a 12-month high of $379.93. The firm has a market capitalization of $110.45 billion, a price-to-earnings ratio of 72.25, a P/E/G ratio of 1.25 and a beta of 2.03. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.69.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. Vertiv’s payout ratio is currently 6.28%.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRT shares. Roth Capital reaffirmed a “buy” rating and set a $355.00 price objective on shares of Vertiv in a research note on Thursday, May 21st. Zacks Research cut Vertiv from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Vertiv in a report on Tuesday, July 21st. Mizuho set a $380.00 price target on Vertiv in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein started coverage on Vertiv in a report on Tuesday, June 9th. They set an “outperform” rating and a $416.00 price objective on the stock. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $343.48.

About Vertiv

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.