Whale Rock Capital Management LLC Takes Position in Vertiv Holdings Co (NYSE:VRT)

Whale Rock Capital Management LLC acquired a new position in Vertiv Holdings Co (NYSE:VRT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,110,834 shares of the company’s stock, valued at approximately $110,517,000. Vertiv comprises 1.6% of Whale Rock Capital Management LLC’s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds have also bought and sold shares of VRT. Anchor Investment Management LLC bought a new position in shares of Vertiv during the 2nd quarter valued at about $26,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter valued at $29,000. Global Trust Asset Management LLC purchased a new position in Vertiv in the 3rd quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Vertiv Trading Up 2.8 %

NYSE VRT opened at $134.58 on Friday. The stock’s 50 day moving average is $117.39 and its 200 day moving average is $97.19. 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 firm has a market capitalization of $50.51 billion, a PE ratio of 89.72, a P/E/G ratio of 1.32 and a beta of 1.61. Vertiv Holdings Co has a twelve month low of $44.03 and a twelve month high of $145.67.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 19.0% compared to the same quarter last year. Research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently disclosed 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 is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. Vertiv’s payout ratio is presently 6.67%.

Insiders Place Their Bets

In related news, Director Jan Van Dokkum sold 38,647 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.39, for a total value of $5,271,064.33. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This represents a 60.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction 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 completion of the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRT. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Oppenheimer upped their price objective on shares of Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI raised their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $138.50.

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.