Viking Fund Management LLC Has $1.93 Million Position in Vertiv Holdings Co (NYSE:VRT)

Viking Fund Management LLC raised its stake in Vertiv Holdings Co (NYSE:VRT) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,000 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Viking Fund Management LLC’s holdings in Vertiv were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VRT. Jennison Associates LLC lifted its position in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 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 during the period. Castle Hook Partners LP lifted its holdings in shares of Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after acquiring an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC acquired a new stake in shares of Vertiv during the 3rd quarter worth approximately $110,517,000. Finally, Blue Whale Capital LLP acquired a new position in Vertiv during the third quarter valued at approximately $93,481,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer lifted their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Fox Advisors assumed coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. The Goldman Sachs Group lifted 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.75.

Vertiv Stock Performance

Shares of VRT opened at $143.16 on Wednesday. The firm’s fifty day simple moving average is $126.63 and its two-hundred day simple moving average is $104.34. Vertiv Holdings Co has a 12 month low of $52.40 and a 12 month high of $145.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $53.73 billion, a P/E ratio of 95.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.63.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. As a group, analysts predict that Vertiv Holdings Co will post 2.7 EPS for the current year.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were paid a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s payout ratio is 6.67%.

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.