Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in Vertiv Holdings Co (NYSE:VRT) by 166.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,236 shares of the company’s stock after acquiring an additional 17,620 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vertiv were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRT. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv during the 2nd quarter valued at approximately $331,091,000. Price T Rowe Associates Inc. MD boosted its holdings in Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP purchased a new position in shares of Vertiv during the 1st quarter valued at about $135,987,000. Finally, Swedbank AB lifted its holdings in shares of Vertiv by 247.5% in the 2nd quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after buying an additional 480,394 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen lifted their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI lifted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday. They set a “buy” rating and a $155.00 target price on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $125.40.

Vertiv Stock Performance

VRT opened at $120.87 on Friday. The firm’s fifty day simple moving average is $105.37 and its two-hundred day simple moving average is $93.68. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $130.30. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 80.58, a PEG ratio of 1.35 and a beta of 1.58. 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 (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company posted $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. Equities analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is 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.