Mount Lucas Management LP Buys 223 Shares of Vertiv Holdings Co (NYSE:VRT)

Mount Lucas Management LP raised its stake in Vertiv Holdings Co (NYSE:VRT) by 2.4% during the 3rd quarter, Holdings Channel reports. The fund owned 9,411 shares of the company’s stock after acquiring an additional 223 shares during the period. Mount Lucas Management LP’s holdings in Vertiv were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC bought a new position in shares of Vertiv during the second quarter worth approximately $26,000. Mather Group LLC. increased its holdings in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the third quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of Vertiv during the third quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Vertiv during the second quarter worth approximately $34,000. 89.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on VRT shares. Bank of America raised their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Mizuho increased their price target on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. UBS Group began coverage on shares of Vertiv in a research report on Wednesday. They set a “buy” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and an average price target of $125.40.

Vertiv Stock Performance

Shares of Vertiv stock opened at $120.87 on Friday. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $130.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a market capitalization of $45.37 billion, a P/E ratio of 80.58, a P/E/G ratio of 1.31 and a beta of 1.58. The company’s 50 day moving average price is $105.37 and its two-hundred day moving average price is $93.68.

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

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.08%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is owned by company 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.