483,500 Shares in Vertiv Holdings Co (NYSE:VRT) Acquired by TOMS Capital Investment Management LP

TOMS Capital Investment Management LP acquired a new stake in Vertiv Holdings Co (NYSE:VRT) during the third quarter, HoldingsChannel reports. The fund acquired 483,500 shares of the company’s stock, valued at approximately $48,103,000. Vertiv makes up approximately 1.8% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 9th largest holding.

Other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC raised its position 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 during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Vertiv in the second quarter worth $331,091,000. Westfield Capital Management Co. LP lifted its position in shares of Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after buying an additional 40,696 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Vertiv by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,320,425 shares of the company’s stock valued at $330,349,000 after purchasing an additional 652,436 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $127.60 on Monday. Vertiv Holdings Co has a 1 year low of $42.50 and a 1 year high of $145.67. The firm has a market capitalization of $47.89 billion, a PE ratio of 85.07, a P/E/G ratio of 1.31 and a beta of 1.58. 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 50 day moving average price is $114.87 and its 200-day moving average price is $96.26.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal 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 paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRT. Oppenheimer increased their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. TD Cowen increased their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Mizuho lifted their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. UBS Group began coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, 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 report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $138.50.

Insider Buying and Selling

In related news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Karsten Winther sold 44,924 shares of the firm’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 value of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 80.99 % decrease in their position. 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 three months. 5.01% of the stock is owned by corporate insiders.

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.