Oppenheimer Asset Management Inc. Increases Holdings in Vertiv Holdings Co (NYSE:VRT)

Oppenheimer Asset Management Inc. raised its stake in Vertiv Holdings Co (NYSE:VRT) by 166.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,236 shares of the company’s stock after buying an additional 17,620 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vertiv were worth $2,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VRT. Clearbridge Investments LLC increased its position in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares during the last quarter. Janney Capital Management LLC purchased a new stake in shares of Vertiv during the 3rd quarter valued at approximately $8,403,000. Assenagon Asset Management S.A. lifted its holdings in Vertiv by 190.7% in the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after acquiring an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP grew its position in Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after acquiring an additional 9,479 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertiv

In related 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 value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group reduced their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. Bank of America boosted their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their target price on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $125.40.

Vertiv Price Performance

Shares of VRT opened at $120.87 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The company has a market cap of $45.37 billion, a P/E ratio of 80.58, a PEG ratio of 1.35 and a beta of 1.58. The firm’s 50 day moving average price is $105.37 and its 200 day moving average price is $93.68.

Vertiv (NYSE:VRT) last posted its quarterly earnings data 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. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is presently 6.67%.

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.