Payden & Rygel Buys Shares of 66,800 Vertiv Holdings Co (NYSE:VRT)

Payden & Rygel acquired a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,800 shares of the company’s stock, valued at approximately $6,646,000.

A number of other hedge funds have also recently bought and sold shares of VRT. Clearbridge Investments LLC increased its stake in Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares during the period. Janney Capital Management LLC purchased a new position in shares of Vertiv in the 3rd quarter worth $8,403,000. Assenagon Asset Management S.A. increased its stake 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 last quarter. Finally, Entropy Technologies LP lifted its stake in shares of Vertiv by 42.4% in the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred 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 transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $137.56 on Thursday. The business has a 50 day simple moving average of $108.75 and a 200 day simple moving average of $94.57. 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 firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $141.76.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping 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 company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VRT. JPMorgan Chase & Co. increased their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup upped their price objective on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group began coverage on Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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.