Thematics Asset Management Invests $14.13 Million in Vertiv Holdings Co (NYSE:VRT)

Thematics Asset Management purchased a new position in Vertiv Holdings Co (NYSE:VRT) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 142,000 shares of the company’s stock, valued at approximately $14,128,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in Vertiv by 10,825.0% during 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 during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the 2nd quarter valued at about $331,091,000. Blue Whale Capital LLP purchased a new stake in shares of Vertiv in the third quarter worth approximately $93,481,000. Swedbank AB lifted its holdings in shares of Vertiv by 247.5% in the second quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after purchasing an additional 480,394 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Vertiv during the third quarter valued at approximately $43,771,000. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Evercore ISI upped their price objective 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. Bank of America lifted their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, UBS Group began coverage on shares of Vertiv in a research report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $138.50.

Insider Transactions at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karsten Winther sold 44,924 shares of Vertiv 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,185 shares of company stock worth $10,074,936. 5.01% of the stock is currently owned by corporate insiders.

Vertiv Price Performance

NYSE VRT traded down $0.17 on Tuesday, hitting $131.86. The stock had a trading volume of 2,134,306 shares, compared to its average volume of 8,186,773. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 88.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $145.67. The firm has a 50-day moving average of $111.84 and a 200-day moving average of $95.42. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last released its quarterly earnings results 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 return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm posted $0.52 EPS. The company’s revenue was up 19.0% compared to the same quarter last year. Equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

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.