Tidal Investments LLC Has $6.23 Million Position in Vertiv Holdings Co (NYSE:VRT)

Tidal Investments LLC cut its stake in Vertiv Holdings Co (NYSE:VRT) by 61.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,629 shares of the company’s stock after selling 100,618 shares during the quarter. Tidal Investments LLC’s holdings in Vertiv were worth $6,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of VRT. State Street Corp increased its position in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after buying an additional 408,054 shares in the last quarter. Jennison Associates LLC increased its holdings in Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP raised its position in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Vertiv in the second quarter valued at approximately $331,091,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Up 0.6 %

Shares of Vertiv stock opened at $125.73 on Friday. Vertiv Holdings Co has a 1 year low of $44.31 and a 1 year high of $145.67. The company’s fifty day simple moving average is $120.45 and its 200-day simple moving average is $98.21. The company has a market cap of $47.19 billion, a price-to-earnings ratio of 83.82, a PEG ratio of 1.29 and a beta of 1.61. 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) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the business posted $0.52 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRT. Oppenheimer raised their price target on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.09.

Insider Transactions at Vertiv

In other news, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by corporate insiders.

About Vertiv

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.