Vertiv Holdings Co (NYSE:VRT) Position Increased by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 10,825.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,600,415 shares of the company’s stock after buying an additional 4,558,306 shares during the quarter. Jennison Associates LLC’s holdings in Vertiv were worth $457,695,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after buying an additional 340,639 shares in the last quarter. Whittier Trust Co. lifted its stake in Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares in the last quarter. Janney Capital Management LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at about $8,403,000. Assenagon Asset Management S.A. increased its holdings in shares of Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares during the period. Finally, Entropy Technologies LP increased its holdings in shares of Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the 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 completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Vertiv Trading Up 14.6 %

Shares of VRT stock opened at $140.94 on Wednesday. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $141.12. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $107.65 and its two-hundred day moving average is $94.27. The company has a market cap of $52.90 billion, a PE ratio of 93.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer increased their price objective on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup increased their price objective on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $138.50.

Vertiv Company Profile

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.