Horizon Kinetics Asset Management LLC Buys New Holdings in Vertiv Holdings Co (NYSE:VRT)

Horizon Kinetics Asset Management LLC purchased a new position in Vertiv Holdings Co (NYSE:VRT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,330 shares of the company’s stock, valued at approximately $1,525,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRT. Clearbridge Investments LLC boosted its holdings 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 purchasing an additional 340,639 shares during the period. Whittier Trust Co. lifted its holdings in Vertiv by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares during the period. Janney Capital Management LLC bought a new stake in shares of Vertiv in the 3rd quarter worth approximately $8,403,000. Assenagon Asset Management S.A. increased its stake 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 valued at $5,564,000 after buying an additional 36,684 shares during the period. Finally, Entropy Technologies LP raised its holdings in shares of Vertiv by 42.4% during the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after acquiring an additional 9,479 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,185 shares of company stock valued at $10,074,936. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on VRT. Oppenheimer upped 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. Citigroup increased 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, November 19th. Evercore ISI lifted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho increased their target price on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, TD Cowen lifted their price target on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Price Performance

Shares of NYSE:VRT opened at $132.03 on Tuesday. The company has a market capitalization of $49.56 billion, a PE ratio of 88.02, a PEG ratio of 1.44 and a beta of 1.58. The business has a fifty day moving average price of $111.84 and a 200-day moving average price of $95.42. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. 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 issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Vertiv Company 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.