Old West Investment Management LLC Has $2.82 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Old West Investment Management LLC increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 44.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,372 shares of the company’s stock after acquiring an additional 8,683 shares during the quarter. Vertiv comprises 1.1% of Old West Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Old West Investment Management LLC’s holdings in Vertiv were worth $2,823,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VRT. Clearbridge Investments LLC grew its holdings in 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 buying an additional 340,639 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Vertiv by 7.2% in the third 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 acquired a new position in shares of Vertiv in the third quarter valued at about $8,403,000. Assenagon Asset Management S.A. increased its position in Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after acquiring an additional 36,684 shares during the period. Finally, KBC Group NV raised its stake in Vertiv by 46.8% in the 3rd quarter. KBC Group NV now owns 76,932 shares of the company’s stock worth $7,654,000 after purchasing an additional 24,526 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’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 value of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer raised their price objective on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $139.90.

Vertiv Stock Performance

Vertiv stock opened at $121.74 on Wednesday. The stock has a market cap of $45.69 billion, a PE ratio of 81.16, a P/E/G ratio of 1.38 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $44.31 and a 12-month high of $145.67. The business’s 50-day moving average price is $119.12 and its two-hundred day moving average price is $97.69.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, analysts expect 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. Investors of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio (DPR) 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.