Vertiv Holdings Co (NYSE:VRT) Stock Position Lifted by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 135.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,942 shares of the company’s stock after buying an additional 25,844 shares during the quarter. Penserra Capital Management LLC’s holdings in Vertiv were worth $4,470,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Clearbridge Investments LLC boosted its position in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Vertiv by 7.2% during the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares in the last quarter. Janney Capital Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter valued at about $8,403,000. Assenagon Asset Management S.A. grew its stake in shares of Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after buying an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP increased its holdings in Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after buying an additional 9,479 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

VRT opened at $140.15 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average price is $110.94 and its two-hundred day moving average price is $95.18. The firm has a market capitalization of $52.60 billion, a P/E ratio of 93.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Vertiv’s revenue was up 19.0% compared to the same quarter last year. On average, equities 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. Investors of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’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 $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 91,185 shares of company stock valued at $10,074,936 in the last quarter. Corporate insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on VRT shares. TD Cowen boosted their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer upped their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Citigroup increased their price objective on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and a consensus target price of $138.50.

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.