5 Best Multibagger Stocks to Buy for 2024

3. Vertiv Holdings Co (NYSE:VRT)

Number of Hedge Fund Holders: 41

1-Year Share Price Gain as of July 7: 184%

Vertiv Holdings Co (NYSE:VRT) produces electrical equipment for data centers. Its products include critical power systems, UPS systems, power distribution units, and thermal management systems along with several other products. Vertiv Holdings Co (NYSE:VRT) is headquartered in Ohio, US, and operates globally.

In Q1 2023, 41 hedge funds had a stake in Vertiv Holdings Co (NYSE:VRT), compared to 40 in the previous quarter. Starboard Value LP owned 16.8 million of the company shares worth $240.67 million.

Vertiv Holdings Co (NYSE:VRT)’s share price gained 184% in one year at market close on July 7. Evercore ISI sees a further upside to the company stock and on June 29, the firm raised its price target for Vertiv Holdings Co (NYSE:VRT)’s stock to $30 from $20.

ClearBridge Investments made the following comment about Vertiv Holdings Co (NYSE:VRT) in its Q4 2022 investor letter:

“Another solid contributor was Vertiv Holdings Co (NYSE:VRT), a leader in power and thermal management and related tools and systems used by data centers, enterprise and industrials customers and communication carriers globally. Vertiv continues to demonstrate a recovery from supply chain disruptions, win investor approval of its new CEO’s focus on operational improvements and generate greater free cash flow which will continue to make it a strong, long-term holding.”

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