TT International Asset Management LTD Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

TT International Asset Management LTD lessened its stake in Vertiv Holdings Co (NYSE:VRT) by 30.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,833 shares of the company’s stock after selling 15,265 shares during the quarter. Vertiv accounts for 0.6% of TT International Asset Management LTD’s investment portfolio, making the stock its 20th largest position. TT International Asset Management LTD’s holdings in Vertiv were worth $3,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its stake in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after acquiring an additional 308,704 shares during the last quarter. Geode Capital Management LLC grew its stake in Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after acquiring an additional 408,054 shares during the last quarter. Jennison Associates LLC grew its stake in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after acquiring an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP boosted its position 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 last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the second quarter worth approximately $331,091,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of several research analyst reports. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Barclays assumed coverage on shares of Vertiv in a report on Thursday, December 12th. They issued an “equal weight” rating and a $142.00 price target on the stock. Evercore ISI raised their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv has a consensus rating of “Moderate Buy” and an average target price of $140.92.

Vertiv Stock Performance

Vertiv stock opened at $128.95 on Monday. The company has a market cap of $48.40 billion, a PE ratio of 85.97, a P/E/G ratio of 1.29 and a beta of 1.63. The company has a fifty day moving average price of $124.74 and a two-hundred day moving average price of $102.19. Vertiv Holdings Co has a 12 month low of $48.22 and a 12 month high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last released its quarterly 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. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. 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 business posted $0.52 earnings per share. Research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

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

Insider Activity

In other news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock valued at $23,105,682 over the last three months. Insiders own 5.01% of the company’s stock.

Vertiv 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.