Concentric Capital Strategies LP Boosts Holdings in Vertiv Holdings Co (NYSE:VRT)

Concentric Capital Strategies LP boosted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 588.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after buying an additional 85,477 shares during the quarter. Concentric Capital Strategies LP’s holdings in Vertiv were worth $9,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the second quarter valued at about $331,091,000. Castle Hook Partners LP increased its position in Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after buying an additional 1,273,746 shares in the last quarter. Blue Whale Capital LLP bought a new position in shares of Vertiv in the third quarter worth about $93,481,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vertiv by 297.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 908,251 shares of the company’s stock valued at $90,362,000 after buying an additional 679,565 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Karsten Winther sold 44,924 shares of the 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 in the company, valued at approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,451 shares of company stock valued at $26,699,153 over the last quarter. 5.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup raised their target price 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. Bank of America lifted their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer raised their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Mizuho upped their price objective on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group lifted their target price on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv currently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Up 0.5 %

NYSE:VRT opened at $127.60 on Monday. The stock has a market capitalization of $47.89 billion, a price-to-earnings ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The stock’s fifty day moving average is $114.87 and its two-hundred day moving average is $96.26. Vertiv Holdings Co has a 52 week low of $42.50 and a 52 week high of $145.67.

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

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio 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.