Impax Asset Management Group plc Sells 39,170 Shares of Vertiv Holdings Co (NYSE:VRT)

Impax Asset Management Group plc reduced its stake in Vertiv Holdings Co (NYSE:VRT) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 624,648 shares of the company’s stock after selling 39,170 shares during the period. Impax Asset Management Group plc’s holdings in Vertiv were worth $62,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Vertiv in the 2nd quarter valued at approximately $331,091,000. Price T Rowe Associates Inc. MD grew its stake in shares of Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP bought a new position in Vertiv in the 1st quarter worth about $135,987,000. Finally, Westfield Capital Management Co. LP grew its position in Vertiv by 85.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Stock Performance

Shares of VRT opened at $106.21 on Tuesday. The firm has a market capitalization of $39.86 billion, a P/E ratio of 70.81, a PEG ratio of 1.16 and a beta of 1.58. 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 Holdings Co has a one year low of $38.68 and a one year high of $116.41. The business has a fifty day moving average of $97.48 and a 200 day moving average of $91.44.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRT has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price for the company. TD Cowen boosted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Mizuho boosted their price target on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.11.

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.