Telemark Asset Management LLC Takes $2.99 Million Position in Vertiv Holdings Co (NYSE:VRT)

Telemark Asset Management LLC bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $2,985,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC raised its position 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 buying an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Vertiv in the second quarter valued at $331,091,000. Price T Rowe Associates Inc. MD raised its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Swedbank AB lifted its stake in Vertiv by 247.5% during the second quarter. Swedbank AB now owns 674,493 shares of the company’s stock worth $58,391,000 after purchasing an additional 480,394 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after purchasing an additional 451,830 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group began coverage on Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI lifted their target price 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. Citigroup boosted their price target on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America raised their price objective on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has an average rating of “Buy” and an average target price of $138.50.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.01% of the stock is currently owned by company insiders.

Vertiv Trading Up 3.1 %

VRT opened at $141.75 on Friday. The firm has a market capitalization of $53.20 billion, a price-to-earnings ratio of 94.50, a PEG ratio of 1.53 and a beta of 1.58. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $145.67. The business has a 50 day simple moving average of $109.85 and a two-hundred day simple moving average of $94.90. 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 (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s payout ratio is currently 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.