Rep. Josh Gottheimer Purchases Shares of Vertiv Holdings Co (NYSE:VRT)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Vertiv Holdings Co (NYSE:VRT). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Vertiv stock on October 17th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Vertiv Stock Up 1.4 %

Shares of VRT opened at $122.17 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a market capitalization of $45.86 billion, a price-to-earnings ratio of 81.45, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $39.51 and a 1 year high of $124.86. The business’s 50 day simple moving average is $98.93 and its 200-day simple moving average is $91.90.

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

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Vertiv

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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 buying an additional 1,766,784 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Vertiv in the second quarter valued at about $331,091,000. Westfield Capital Management Co. LP raised its holdings in Vertiv by 85.2% in the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Vertiv by 17.7% during the first quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock valued at $245,189,000 after buying an additional 451,830 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRT shares. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. TD Cowen boosted their target price on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Mizuho raised their price target on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has a consensus rating of “Buy” and an average price target of $122.11.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.