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

1832 Asset Management L.P. bought a new position in Vertiv Holdings Co (NYSE:VRT) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 74,500 shares of the company’s stock, valued at approximately $6,084,000.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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. Coatue Management LLC lifted its stake in Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Norges Bank purchased a new position in Vertiv in the fourth quarter valued at approximately $185,339,000. Westfield Capital Management Co. LP lifted its stake in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. Finally, Robeco Schweiz AG lifted its stake in Vertiv by 0.4% in the fourth quarter. Robeco Schweiz AG now owns 2,793,300 shares of the company’s stock valued at $134,162,000 after purchasing an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of Vertiv stock 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 firm has a market cap of $28.87 billion, a price-to-earnings ratio of 74.15, a P/E/G ratio of 1.05 and a beta of 1.58. Vertiv Holdings Co has a 12 month low of $25.09 and a 12 month high of $109.27. The business’s 50-day moving average is $91.90 and its 200 day moving average is $79.97. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.57 earnings per share for the current year.

Vertiv Announces Dividend

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

Analysts Set New Price Targets

VRT has been the topic of several research analyst reports. Evercore ISI upped their price objective on Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Oppenheimer boosted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Mizuho boosted their target price on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group lowered their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. 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

In related news, Director Doherty Philip O’ sold 2,511,295 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 9,324,181 shares in the company, valued at $873,116,308.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anders Karlborg sold 46,206 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the sale, the executive vice president now owns 23,003 shares of the company’s stock, valued at $2,156,531.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,674,034 shares of company stock worth $354,931,478. Corporate insiders own 5.01% of the company’s stock.

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.