Thematics Asset Management bought a new position in shares of Vertiv Holdings Co (NYSE:VRT – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 142,000 shares of the company’s stock, valued at approximately $14,128,000.
Other hedge funds have also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in Vertiv in the 3rd quarter valued at $29,000. Anchor Investment Management LLC acquired a new position in Vertiv during the 2nd quarter worth approximately $26,000. Global Trust Asset Management LLC acquired a new stake in shares of Vertiv in the third quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new position in Vertiv during the third quarter worth $30,000. Finally, Mather Group LLC. increased its stake in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares in the company, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,185 shares of company stock valued at $10,074,936. 5.01% of the stock is currently owned by corporate insiders.
Vertiv Price Performance
Vertiv (NYSE:VRT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal 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 issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is presently 6.67%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on VRT. Evercore ISI lifted their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho upped their price target 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. Bank of America lifted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer upped their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv presently has an average rating of “Buy” and an average price target of $138.50.
Vertiv Company 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.
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