Arthur M. Cohen & Associates LLC bought a new stake in Vertiv Holdings Co (NYSE:VRT – Free Report) during the 4th quarter, HoldingsChannel reports. The firm bought 4,525 shares of the company’s stock, valued at approximately $514,000.
Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC lifted its position in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Castle Hook Partners LP raised its stake in Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Vertiv in the 3rd quarter valued at $110,517,000. Finally, Blue Whale Capital LLP acquired a new stake in Vertiv during the 3rd quarter worth $93,481,000. Institutional investors and hedge funds own 89.92% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on VRT shares. Bank of America increased their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group initiated coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Mizuho boosted their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI cut their target price on Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and an average target price of $141.75.
Insiders Place Their Bets
In other Vertiv news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction dated 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 completion of the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 over the last ninety days. Corporate insiders own 5.01% of the company’s stock.
Vertiv Stock Performance
NYSE VRT opened at $135.94 on Friday. The stock has a market cap of $51.02 billion, a PE ratio of 90.63, a P/E/G ratio of 0.99 and a beta of 1.63. Vertiv Holdings Co has a twelve month low of $49.67 and a twelve month high of $145.67. The stock has a fifty day simple moving average of $125.86 and a 200-day simple moving average of $103.16. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.
Vertiv (NYSE:VRT – Get Free Report) last announced 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. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. Vertiv’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current year.
Vertiv Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a $0.0375 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is presently 6.67%.
Vertiv 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.
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