Fred Alger Management LLC Increases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Fred Alger Management LLC boosted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 24.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,320,425 shares of the company’s stock after purchasing an additional 652,436 shares during the period. Vertiv makes up 1.6% of Fred Alger Management LLC’s holdings, making the stock its 12th largest holding. Fred Alger Management LLC’s holdings in Vertiv were worth $330,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VRT. Jennison Associates LLC increased its holdings in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Vertiv during the second quarter worth about $331,091,000. Castle Hook Partners LP increased its stake in Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares during the last quarter. Blue Whale Capital LLP purchased a new stake in shares of Vertiv in the 3rd quarter valued at about $93,481,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vertiv by 297.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 908,251 shares of the company’s stock valued at $90,362,000 after acquiring an additional 679,565 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRT. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Evercore ISI lifted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Mizuho raised their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $138.50.

Vertiv Price Performance

Shares of NYSE:VRT opened at $126.94 on Friday. The company’s fifty day moving average is $114.21 and its 200 day moving average is $96.11. 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 $41.01 and a 52 week high of $145.67. The stock has a market cap of $47.65 billion, a PE ratio of 84.63, a PEG ratio of 1.31 and a beta of 1.58.

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

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend 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 is 6.67%.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock valued at $26,699,153 over the last ninety days. 5.01% of the stock is owned by insiders.

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.