Verition Fund Management LLC Purchases 26,838 Shares of Vertiv Holdings Co (NYSE:VRT)

Verition Fund Management LLC raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 28.4% during the third quarter, HoldingsChannel.com reports. The fund owned 121,497 shares of the company’s stock after buying an additional 26,838 shares during the quarter. Verition Fund Management LLC’s holdings in Vertiv were worth $12,088,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in shares of Vertiv during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC acquired a new position in Vertiv in the second quarter valued at approximately $26,000. Global Trust Asset Management LLC bought a new position in shares of Vertiv during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $30,000. Finally, Mather Group LLC. increased its stake in shares of 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 acquiring an additional 200 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Price Performance

Shares of NYSE:VRT opened at $127.60 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market cap of $47.89 billion, a PE ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The stock’s fifty day simple moving average is $114.87 and its two-hundred day simple moving average is $96.32. Vertiv Holdings Co has a 1-year low of $42.50 and a 1-year high of $145.67.

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

Vertiv Increases Dividend

The firm also recently declared 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. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Bank of America increased their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen boosted their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Mizuho increased their target price on Vertiv from $125.00 to $145.00 and gave the stock 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 a consensus rating of “Buy” and an average price target of $138.50.

Insider Buying and Selling

In other news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,451 shares of company stock worth $26,699,153. 5.01% of the stock is owned by company insiders.

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.