Fred Alger Management LLC Purchases 652,436 Shares of Vertiv Holdings Co (NYSE:VRT)

Fred Alger Management LLC boosted its position in Vertiv Holdings Co (NYSE:VRT) by 24.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,320,425 shares of the company’s stock after buying an additional 652,436 shares during the period. Vertiv makes up 1.6% of Fred Alger Management LLC’s holdings, making the stock its 12th biggest holding. Fred Alger Management LLC owned about 0.88% of Vertiv worth $330,349,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of VRT. Anchor Investment Management LLC bought a new stake in shares of Vertiv during the 2nd quarter valued at about $26,000. Mather Group LLC. lifted its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of Vertiv stock opened at $126.94 on Friday. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $145.67. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The business has a 50 day moving average price of $114.21 and a 200-day moving average price of $96.11. The company has a market cap of $47.65 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. 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. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,451 shares of company stock valued at $26,699,153. 5.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on VRT shares. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group began coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $138.50.

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.