Vertiv Holdings Co (NYSE:VRT) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 10,825.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600,415 shares of the company’s stock after purchasing an additional 4,558,306 shares during the period. Jennison Associates LLC owned about 1.23% of Vertiv worth $457,695,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Vertiv during the third quarter worth $160,000. PNC Financial Services Group Inc. lifted its position in shares of Vertiv by 10.2% during the third quarter. PNC Financial Services Group Inc. now owns 28,066 shares of the company’s stock worth $2,792,000 after purchasing an additional 2,604 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Vertiv during the third quarter worth $869,000. Banque Cantonale Vaudoise lifted its position in shares of Vertiv by 38.3% during the third quarter. Banque Cantonale Vaudoise now owns 29,503 shares of the company’s stock worth $2,935,000 after purchasing an additional 8,168 shares in the last quarter. Finally, Wrapmanager Inc. acquired a new position in shares of Vertiv during the third quarter worth $232,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by insiders.

Vertiv Stock Up 14.6 %

VRT stock opened at $140.94 on Wednesday. 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 $141.12. The firm has a fifty day moving average price of $107.65 and a two-hundred day moving average price of $94.27. The firm has a market cap of $52.90 billion, a price-to-earnings ratio of 93.96, a PEG ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The business 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%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Research analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on VRT. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Oppenheimer upped 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. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday. Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America upped their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $138.50.

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.