Y Intercept Hong Kong Ltd Takes Position in Vertiv Holdings Co (NYSE:VRT)

Y Intercept Hong Kong Ltd bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, Holdings Channel.com reports. The fund bought 64,859 shares of the company’s stock, valued at approximately $6,453,000.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Vertiv by 10,825.0% during the 3rd 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 last quarter. Wellington Management Group LLP grew its stake in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Vertiv in the second quarter valued at $331,091,000. Finally, Westfield Capital Management Co. LP raised its stake in Vertiv by 1.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after buying an additional 40,696 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on VRT. JPMorgan Chase & Co. upped their price objective on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. TD Cowen upped their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Oppenheimer raised 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. Evercore ISI boosted 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. Finally, Bank of America increased their target price 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. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv presently has a consensus rating of “Buy” and a consensus target price of $138.50.

Insider Buying and Selling at Vertiv

In other Vertiv news, 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 completion of the transaction, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. This represents a 81.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by insiders.

Vertiv Stock Performance

Shares of Vertiv stock opened at $133.85 on Monday. The stock has a market capitalization of $50.24 billion, a price-to-earnings ratio of 89.23, a PEG ratio of 1.38 and a beta of 1.61. The firm’s fifty day simple moving average is $118.10 and its 200-day simple moving average is $97.40. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 12 month low of $44.14 and a 12 month high of $145.67.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating 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 company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

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.