Everence Capital Management Inc. Purchases New Position in Vertiv Holdings Co (NYSE:VRT)

Everence Capital Management Inc. purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,590 shares of the company’s stock, valued at approximately $862,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Vertiv by 4.2% during the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Vertiv by 7.4% during the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares during the last quarter. Jennison Associates LLC increased its position in shares of 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 in the last quarter. Wellington Management Group LLP increased its position in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the 2nd quarter valued at about $331,091,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of VRT stock opened at $125.67 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $45.09 and a 12-month high of $145.67. The company has a market cap of $47.17 billion, a price-to-earnings ratio of 83.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61. The stock has a 50 day simple moving average of $122.82 and a 200-day simple moving average of $100.68.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Buying and Selling at Vertiv

In related news, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,409,750. This represents a 60.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,527 shares of company stock valued at $23,105,682. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VRT shares. Barclays assumed coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup raised their price objective on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and an average target price of $140.09.

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.