Avalon Global Asset Management LLC Purchases 20,000 Shares of Vertiv Holdings Co (NYSE:VRT)

Avalon Global Asset Management LLC increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 80.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Vertiv comprises about 0.9% of Avalon Global Asset Management LLC’s portfolio, making the stock its 26th biggest position. Avalon Global Asset Management LLC’s holdings in Vertiv were worth $3,896,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRT. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the 2nd quarter worth $331,091,000. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 3,591,903 shares during the last quarter. Coatue Management LLC grew its position in shares of Vertiv by 19.5% in 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 during the last quarter. Vanguard Group Inc. grew its position 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 buying an additional 1,766,784 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Vertiv in the 1st quarter valued at about $135,987,000. Institutional investors own 89.92% of the company’s stock.

Insider Activity

In other 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 value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group reduced their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. TD Cowen upped their price target on Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, Evercore ISI reissued an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $102.13.

Vertiv Stock Performance

Shares of Vertiv stock opened at $94.55 on Friday. The company has a market cap of $35.39 billion, a PE ratio of 90.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The business has a 50 day moving average price of $79.49 and a 200-day moving average price of $85.25. 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 (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. 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 posted $0.46 earnings per share. Equities analysts anticipate that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s dividend payout ratio is presently 9.62%.

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.