Lord Abbett & CO. LLC Boosts Holdings in Vertiv Holdings Co (NYSE:VRT)

Lord Abbett & CO. LLC boosted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 31.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 843,058 shares of the company’s stock after buying an additional 202,576 shares during the period. Lord Abbett & CO. LLC’s holdings in Vertiv were worth $83,876,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its holdings in Vertiv by 18.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,502 shares of the company’s stock valued at $660,000 after acquiring an additional 1,021 shares during the last quarter. Blankinship & Foster LLC acquired a new position in Vertiv during the 3rd quarter worth $8,798,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vertiv during the third quarter worth approximately $584,000. World Investment Advisors LLC acquired a new stake in shares of Vertiv in the 3rd quarter valued at $1,230,000. Finally, Sanctuary Advisors LLC raised its stake in Vertiv by 170.2% in the third quarter. Sanctuary Advisors LLC now owns 47,179 shares of the company’s stock valued at $4,694,000 after buying an additional 29,719 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were 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 directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,527 shares of company stock worth $23,105,682. Insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $125.73 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The stock has a market capitalization of $47.19 billion, a price-to-earnings ratio of 83.82, a PEG ratio of 1.29 and a beta of 1.61. Vertiv Holdings Co has a one year low of $44.31 and a one year high of $145.67. The company’s 50-day simple moving average is $120.45 and its 200-day simple moving average is $98.21.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. Vertiv’s payout ratio is 6.67%.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of research reports. Oppenheimer boosted their price objective on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Citigroup increased their price objective on Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI lifted their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.09.

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.