Penserra Capital Management LLC Purchases 25,844 Shares of Vertiv Holdings Co (NYSE:VRT)

Penserra Capital Management LLC increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 135.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,942 shares of the company’s stock after buying an additional 25,844 shares during the quarter. Penserra Capital Management LLC’s holdings in Vertiv were worth $4,470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC grew its stake in shares of Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after acquiring an additional 340,639 shares in the last quarter. Whittier Trust Co. boosted its holdings in Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after purchasing an additional 8,579 shares during the last quarter. Janney Capital Management LLC bought a new position in Vertiv in the third quarter valued at $8,403,000. Assenagon Asset Management S.A. increased its stake in Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after buying an additional 36,684 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in Vertiv by 42.4% during the 3rd quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock worth $3,168,000 after buying an additional 9,479 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity at Vertiv

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction 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. The trade was a 61.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,185 shares of company stock worth $10,074,936. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $140.15 on Monday. Vertiv Holdings Co has a 52 week low of $41.01 and a 52 week high of $145.67. The company has a market capitalization of $52.60 billion, a price-to-earnings ratio of 93.43, a PEG ratio of 1.45 and a beta of 1.58. The company has a 50-day simple moving average of $110.94 and a 200 day simple moving average of $95.18. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last posted its 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 company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued 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 dividend yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VRT. TD Cowen lifted their target price on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. UBS Group assumed coverage on Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $138.50.

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.