Vertiv Holdings Co (NYSE:VRT) Stake Decreased by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC decreased its holdings in Vertiv Holdings Co (NYSE:VRT) by 16.9% in the third quarter, Holdings Channel reports. The fund owned 808,839 shares of the company’s stock after selling 164,642 shares during the period. Vertiv accounts for approximately 3.2% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Vertiv were worth $80,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Clearbridge Investments LLC grew its holdings in shares of Vertiv by 15.4% in 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 period. Whittier Trust Co. grew its stake in shares of Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after buying an additional 8,579 shares during the period. Janney Capital Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $8,403,000. Assenagon Asset Management S.A. raised its position in shares of Vertiv by 190.7% during 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 during the period. Finally, Generate Investment Management Ltd lifted its holdings in Vertiv by 180.8% in the third quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after acquiring an additional 385,251 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRT has been the subject of several recent analyst reports. Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Oppenheimer boosted their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $122.11.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated 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 sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Vertiv stock opened at $112.57 on Wednesday. The company’s 50 day moving average is $98.13 and its two-hundred day moving average is $91.70. The firm has a market cap of $42.25 billion, a PE ratio of 75.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 52-week low of $38.68 and a 52-week high of $116.41.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, research analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 6.67%.

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.