Vertiv Holdings Co (NYSE:VRT) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Vertiv Holdings Co (NYSE:VRT) by 314.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,600 shares of the company’s stock after acquiring an additional 253,200 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.09% of Vertiv worth $33,190,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. raised its position in shares of Vertiv by 79.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after acquiring an additional 252 shares during the period. Atticus Wealth Management LLC purchased a new stake in shares of Vertiv during the 1st quarter worth about $27,000. Mather Group LLC. grew its position in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Vertiv in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of VRT traded up $2.51 during trading hours on Friday, hitting $105.20. 5,745,233 shares of the stock were exchanged, compared to its average volume of 8,457,084. The stock’s 50-day moving average price is $82.73 and its two-hundred day moving average price is $87.26. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 101.15, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Research analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

VRT has been the topic of a number of recent analyst reports. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. TD Cowen lifted their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group cut their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $102.13.

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.