Wrapmanager Inc. Invests $232,000 in Vertiv Holdings Co (NYSE:VRT)

Wrapmanager Inc. bought a new stake in Vertiv Holdings Co (NYSE:VRT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,328 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after acquiring an additional 3,591,903 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the second quarter worth about $331,091,000. Janus Henderson Group PLC raised its position in Vertiv by 17.7% in the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after acquiring an additional 451,830 shares in the last quarter. 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 purchasing an additional 340,639 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Vertiv by 7.2% during the second quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock worth $218,512,000 after buying an additional 169,700 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VRT shares. Mizuho increased their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer upped their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore ISI raised their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Price Performance

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

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping 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 firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is currently 6.67%.

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.