Wrapmanager Inc. Buys New Shares in Vertiv Holdings Co (NYSE:VRT)

Wrapmanager Inc. purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,328 shares of the company’s stock, valued at approximately $232,000.

Several other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in Vertiv by 1,441.8% during the third quarter. Meeder Asset Management Inc. now owns 42,354 shares of the company’s stock worth $4,214,000 after acquiring an additional 39,607 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Vertiv during the 3rd quarter worth about $409,000. GLOBALT Investments LLC GA increased its position in Vertiv by 3.0% during the 3rd quarter. GLOBALT Investments LLC GA now owns 6,341 shares of the company’s stock worth $631,000 after purchasing an additional 184 shares in the last quarter. Claro Advisors LLC raised its holdings in Vertiv by 74.3% in the third quarter. Claro Advisors LLC now owns 5,155 shares of the company’s stock valued at $513,000 after buying an additional 2,197 shares during the period. Finally, Mount Lucas Management LP lifted its position in Vertiv by 2.4% during the third quarter. Mount Lucas Management LP now owns 9,411 shares of the company’s stock valued at $936,000 after buying an additional 223 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

VRT stock opened at $140.94 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average is $107.65 and its two-hundred day moving average is $94.27. The company has a market capitalization of $52.90 billion, a PE ratio of 93.96, a P/E/G ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $141.12.

Vertiv (NYSE:VRT) last issued its 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 for 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 revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. Analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio is 6.67%.

Insider Transactions at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VRT shares. UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Oppenheimer raised their price objective on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore ISI boosted their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group started coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Company 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.