Vinva Investment Management Ltd Increases Stake in Vertiv Holdings Co (NYSE:VRT)

Vinva Investment Management Ltd raised its position in Vertiv Holdings Co (NYSE:VRT) by 91.8% during the third quarter, HoldingsChannel reports. The firm owned 91,067 shares of the company’s stock after buying an additional 43,596 shares during the quarter. Vinva Investment Management Ltd’s holdings in Vertiv were worth $8,983,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VRT. Jennison Associates LLC boosted 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 valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 2nd quarter valued at $331,091,000. Castle Hook Partners LP boosted its holdings in shares of 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 buying an additional 1,273,746 shares in the last quarter. Blue Whale Capital LLP purchased a new position in shares of Vertiv in the 3rd quarter valued at $93,481,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Vertiv by 297.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 908,251 shares of the company’s stock worth $90,362,000 after acquiring an additional 679,565 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,451 shares of company stock valued at $26,699,153 in the last ninety days. Corporate insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho upped their price objective on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen upped their price target on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Trading Down 3.6 %

Shares of VRT stock opened at $126.96 on Thursday. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The business’s fifty day moving average price is $113.52 and its 200 day moving average price is $95.89. The firm has a market capitalization of $47.65 billion, a PE ratio of 84.64, a P/E/G ratio of 1.36 and a beta of 1.58.

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

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued 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 a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

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.