Secure Asset Management LLC Buys New Shares in Vertiv Holdings Co (NYSE:VRT)

Secure Asset Management LLC bought a new position in Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,128 shares of the company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after buying an additional 4,558,306 shares during the period. Wellington Management Group LLP increased its stake in shares of Vertiv by 271.0% in the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares during the period. Castle Hook Partners LP raised its holdings in shares of Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Vertiv during the third quarter valued at $110,517,000. Finally, Blue Whale Capital LLP purchased a new stake in Vertiv in the third quarter valued at $93,481,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $146.03 on Friday. The business’s 50 day moving average price is $128.27 and its 200-day moving average price is $105.36. Vertiv Holdings Co has a 1 year low of $52.40 and a 1 year high of $155.84. 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 $54.81 billion, a PE ratio of 97.35, a P/E/G ratio of 1.16 and a beta of 1.63.

Vertiv (NYSE:VRT) last released its earnings results 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 analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.7 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.10%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Transactions at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred on 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 transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 in the last ninety days. Insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Citigroup upped their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their price target on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. TD Cowen upped their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley began coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.75.

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.