Royce & Associates LP Decreases Position in Vertiv Holdings Co (NYSE:VRT)

Royce & Associates LP decreased its position in Vertiv Holdings Co (NYSE:VRT) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,458 shares of the company’s stock after selling 9,716 shares during the period. Royce & Associates LP’s holdings in Vertiv were worth $9,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the 2nd quarter worth approximately $331,091,000. Janus Henderson Group PLC increased its stake in Vertiv by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after buying an additional 451,830 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on VRT shares. Citigroup boosted their target price on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen upped their price objective on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America upped their price objective on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI upped their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $125.40.

Vertiv Stock Performance

NYSE:VRT opened at $120.87 on Monday. The firm has a market capitalization of $45.37 billion, a PE ratio of 80.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The business’s fifty day moving average price is $105.37 and its 200 day moving average price is $93.71. 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 Holdings Co has a 12 month low of $41.01 and a 12 month high of $130.30.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm 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%. Vertiv’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 company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. 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 6.67%.

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.