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 Trading Up 1.4 %

Shares of NYSE 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 P/E ratio of 81.15, 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 has a fifty day moving average price of $98.93 and a 200 day moving average price of $91.90.

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

Vertiv Dividend Announcement

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

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s 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 completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI raised their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Oppenheimer raised their target price on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv has a consensus rating of “Buy” and a consensus target price of $122.11.

Institutional Investors Weigh In On Vertiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA acquired a new position in Vertiv during the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vertiv by 303.1% in the 1st 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP purchased a new stake in shares of Vertiv in the 1st quarter valued at about $135,987,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.

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.