Telemark Asset Management LLC Takes Position in Vertiv Holdings Co (NYSE:VRT)

Telemark Asset Management LLC purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $2,985,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Vertiv by 262.7% during the third quarter. Citigroup Inc. now owns 599,502 shares of the company’s stock valued at $59,644,000 after acquiring an additional 434,216 shares in the last quarter. Raymond James Trust N.A. increased its stake in Vertiv by 123.1% during the 3rd quarter. Raymond James Trust N.A. now owns 5,833 shares of the company’s stock valued at $580,000 after purchasing an additional 3,218 shares in the last quarter. Banco Santander S.A. acquired a new position in Vertiv during the third quarter worth $3,278,000. L & S Advisors Inc lifted its stake in shares of Vertiv by 3.9% in the third quarter. L & S Advisors Inc now owns 22,976 shares of the company’s stock valued at $2,286,000 after buying an additional 863 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Vertiv by 32.1% in the third quarter. Intech Investment Management LLC now owns 43,448 shares of the company’s stock valued at $4,323,000 after buying an additional 10,550 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Up 3.1 %

Shares of NYSE:VRT opened at $141.75 on Friday. The company has a market capitalization of $53.20 billion, a PE ratio of 94.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year 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. The business has a fifty day moving average price of $109.85 and a two-hundred day moving average price of $94.90.

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

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is presently 6.67%.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup increased their price target on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $138.50.

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.