Alta Wealth Advisors LLC Takes Position in Vertiv Holdings Co (NYSE:VRT)

Alta Wealth Advisors LLC purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,312 shares of the company’s stock, valued at approximately $490,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the period. Castle Hook Partners LP boosted its position in shares of Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Vertiv in the 3rd quarter valued at approximately $110,517,000. Finally, Blue Whale Capital LLP purchased a new stake in Vertiv in the third quarter valued at approximately $93,481,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VRT shares. JPMorgan Chase & Co. raised their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Barclays initiated coverage on shares of Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. TD Cowen raised their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley started coverage on Vertiv in a research report on Monday, January 6th. They set an “overweight” rating and a $150.00 price objective on the stock. Finally, Oppenheimer boosted their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Vertiv Stock Up 3.8 %

VRT stock opened at $114.61 on Friday. 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 $55.00 and a 12 month high of $155.84. The company’s 50 day simple moving average is $126.08 and its 200-day simple moving average is $105.81. The firm has a market capitalization of $43.02 billion, a PE ratio of 76.41, a P/E/G ratio of 0.86 and a beta of 1.63.

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock valued at $23,105,682 over the last quarter. Company insiders own 5.01% of the company’s stock.

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.