Vertiv Holdings Co (NYSE:VRT) Stock Position Raised by Otter Creek Advisors LLC

Otter Creek Advisors LLC boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 22.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,479 shares of the company’s stock after purchasing an additional 22,698 shares during the quarter. Vertiv comprises approximately 6.9% of Otter Creek Advisors LLC’s portfolio, making the stock its biggest holding. Otter Creek Advisors LLC’s holdings in Vertiv were worth $10,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Chicago Capital LLC raised its stake in Vertiv by 418.2% in the second quarter. Chicago Capital LLC now owns 16,070 shares of the company’s stock valued at $1,391,000 after purchasing an additional 12,969 shares in the last quarter. EFG Asset Management Americas Corp. raised its stake in shares of Vertiv by 134.8% during the second quarter. EFG Asset Management Americas Corp. now owns 28,522 shares of the company’s stock worth $2,469,000 after acquiring an additional 16,376 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Vertiv during the second quarter worth approximately $445,000. Savant Capital LLC raised its stake in shares of Vertiv by 2.1% during the second quarter. Savant Capital LLC now owns 47,338 shares of the company’s stock worth $4,098,000 after acquiring an additional 985 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Vertiv by 995.0% during the second quarter. Candriam S.C.A. now owns 269,707 shares of the company’s stock worth $23,347,000 after acquiring an additional 245,077 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

NYSE:VRT opened at $71.77 on Friday. The stock has a market cap of $26.87 billion, a P/E ratio of 69.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. The firm’s fifty day simple moving average is $80.72 and its 200 day simple moving average is $84.02. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business 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 50.79%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.14%. The ex-dividend date is Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on VRT shares. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. TD Cowen lifted their price target on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America raised their target price on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group cut 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, July 25th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $96.22.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.01% of the stock is currently owned by company insiders.

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.