Vertiv Holdings Co (NYSE:VRT) Shares Sold by Zimmer Partners LP

Zimmer Partners LP lessened its holdings in Vertiv Holdings Co (NYSE:VRT) by 65.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the company’s stock after selling 65,000 shares during the period. Zimmer Partners LP’s holdings in Vertiv were worth $3,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after purchasing an additional 308,704 shares during the last quarter. Jennison Associates LLC lifted its stake in Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP lifted its stake in Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after acquiring an additional 2,860,181 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the 2nd quarter worth about $331,091,000. Finally, Westfield Capital Management Co. LP lifted its stake in Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after acquiring an additional 40,696 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Down 0.5 %

NYSE:VRT opened at $133.85 on Friday. The stock’s 50 day moving average price is $117.39 and its 200 day moving average price is $97.19. The company has a market capitalization of $50.24 billion, a PE ratio of 89.23, a P/E/G ratio of 1.35 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 52-week low of $44.14 and a 52-week high of $145.67.

Vertiv (NYSE:VRT) last posted its quarterly earnings data 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 return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts anticipate 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. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Oppenheimer increased their target price on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. UBS Group assumed coverage on Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 target price on the stock. Bank of America upped their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has a consensus rating of “Buy” and an average price target of $138.50.

Insiders Place Their Bets

In related news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by company insiders.

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.