Clal Insurance Enterprises Holdings Ltd Purchases Shares of 7,000 Vertiv Holdings Co (NYSE:VRT)

Clal Insurance Enterprises Holdings Ltd purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,000 shares of the company’s stock, valued at approximately $696,000.

Other hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its holdings in shares of Vertiv by 15.4% in the 2nd 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. Whittier Trust Co. raised its stake in shares of Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares during the period. Janney Capital Management LLC purchased a new position in shares of Vertiv in the 3rd quarter valued at $8,403,000. Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 36,684 shares during the period. Finally, Entropy Technologies LP raised its stake 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 acquiring an additional 9,479 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were 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 owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 91,185 shares of company stock worth $10,074,936. Insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRT shares. The Goldman Sachs Group raised their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Evercore ISI raised their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their target price on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Price Performance

Shares of VRT stock opened at $140.15 on Friday. 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 Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The firm has a fifty day moving average of $110.94 and a two-hundred day moving average of $95.19. The firm has a market cap of $52.60 billion, a P/E ratio of 93.43, a P/E/G ratio of 1.45 and a beta of 1.58.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, research 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 $0.0375 dividend. This is a boost 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 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio is 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.