Vertiv Holdings Co (NYSE:VRT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 14.1% during the third quarter, Holdings Channel reports. The firm owned 411,511 shares of the company’s stock after acquiring an additional 50,763 shares during the quarter. Victory Capital Management Inc.’s holdings in Vertiv were worth $40,941,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Clearbridge Investments LLC grew its position in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares during the last quarter. Whittier Trust Co. grew its position in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after acquiring an additional 8,579 shares during the last quarter. Janney Capital Management LLC bought a new position in shares of Vertiv during the third quarter worth about $8,403,000. Assenagon Asset Management S.A. grew its position in shares of Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock worth $5,564,000 after acquiring an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP grew its position in shares of Vertiv by 42.4% during the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after acquiring an additional 9,479 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Performance

NYSE:VRT opened at $120.86 on Friday. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $130.30. 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 company has a 50-day moving average of $104.39 and a 200-day moving average of $93.49. The firm has a market cap of $45.36 billion, a price-to-earnings ratio of 80.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58.

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

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRT. Evercore ISI upped their price target 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. The Goldman Sachs Group lowered their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Oppenheimer increased their target price on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group started coverage on shares of Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $125.40.

Vertiv 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.