Vertiv Holdings Co (NYSE:VRT) Stake Boosted by Connective Portfolio Management LLC

Connective Portfolio Management LLC raised its stake in Vertiv Holdings Co (NYSE:VRT) by 245.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,000 shares of the company’s stock after acquiring an additional 27,000 shares during the period. Vertiv makes up 4.0% of Connective Portfolio Management LLC’s portfolio, making the stock its 6th biggest position. Connective Portfolio Management LLC’s holdings in Vertiv were worth $3,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Personal CFO Solutions LLC bought a new position in Vertiv in the 4th quarter worth approximately $202,000. Point72 Asset Management L.P. raised its holdings in Vertiv by 28.0% in the fourth quarter. Point72 Asset Management L.P. now owns 1,458,778 shares of the company’s stock worth $70,065,000 after purchasing an additional 318,819 shares in the last quarter. Coatue Management LLC increased its position in Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after buying an additional 2,249,353 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Vertiv in the fourth quarter valued at about $231,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Vertiv in the 4th quarter worth approximately $1,858,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Up 1.5 %

Shares of NYSE:VRT traded up $1.55 during midday trading on Wednesday, reaching $108.37. 1,456,449 shares of the company were exchanged, compared to its average volume of 8,391,120. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $109.27. The stock has a fifty day simple moving average of $83.98 and a two-hundred day simple moving average of $87.67. The firm has a market cap of $40.57 billion, a PE ratio of 102.71, a P/E/G ratio of 1.26 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $0.46 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VRT shares. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday. They issued a “buy” rating and a $125.00 price target for the company. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Evercore ISI lifted their price target on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday. TD Cowen increased their price objective 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 objective 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $106.89.

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.