1832 Asset Management L.P. Takes $6.08 Million Position in Vertiv Holdings Co (NYSE:VRT)

1832 Asset Management L.P. bought a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 74,500 shares of the company’s stock, valued at approximately $6,084,000.

Several other hedge funds have also recently made changes to their positions in VRT. Raymond James Financial Services Advisors Inc. grew its stake in Vertiv by 16.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 28,193 shares of the company’s stock worth $1,354,000 after acquiring an additional 4,028 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Vertiv by 244.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 41,984 shares of the company’s stock worth $2,016,000 after acquiring an additional 29,804 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Vertiv in the 4th quarter worth about $380,000. McGlone Suttner Wealth Management Inc. bought a new position in Vertiv in the 4th quarter worth about $70,000. Finally, WT Asset Management Ltd bought a new position in Vertiv in the 4th quarter worth about $24,486,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRT. Evercore ISI upped their target price on shares of Vertiv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Citigroup increased their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen increased their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer increased their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling at Vertiv

In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total value of $235,157,663.80. Following the completion of the sale, the director now directly owns 9,324,181 shares in the company, valued at $873,116,308.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vertiv news, Director Roger Fradin sold 16,667 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $103.86, for a total value of $1,731,034.62. Following the completion of the transaction, the director now owns 218,333 shares of the company’s stock, valued at $22,676,065.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Doherty Philip O’ sold 2,511,295 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the transaction, the director now directly owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The disclosure for this sale can be found here. Insiders sold a total of 3,674,034 shares of company stock worth $354,931,478 over the last three months. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Up 0.8 %

VRT traded up $0.64 during trading on Friday, hitting $77.12. The stock had a trading volume of 7,834,561 shares, compared to its average volume of 9,546,067. The company has a market capitalization of $28.87 billion, a PE ratio of 74.15, a PEG ratio of 1.05 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $25.09 and a twelve month high of $109.27. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a 50 day simple moving average of $91.90 and a two-hundred day simple moving average of $79.97.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, research analysts predict that Vertiv Holdings Co will post 2.57 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is 9.62%.

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.