Vertiv Holdings Co (NYSE:VRT) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of Vertiv Holdings Co (NYSE:VRTFree Report) by 3.4% in the first quarter, HoldingsChannel reports. The firm owned 31,767 shares of the company’s stock after selling 1,111 shares during the quarter. Jennison Associates LLC’s holdings in Vertiv were worth $2,594,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in shares of Vertiv during the first quarter worth about $25,000. Atticus Wealth Management LLC acquired a new stake in Vertiv during the first quarter worth approximately $27,000. Hazlett Burt & Watson Inc. purchased a new stake in Vertiv in the 1st quarter worth approximately $34,000. Farmers & Merchants Investments Inc. raised its holdings in Vertiv by 66.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Vertiv during the 4th quarter worth $26,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Vertiv from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Bank of America lifted their price target on Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Mizuho upped their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Citigroup raised their target price on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI boosted their target price on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.11.

Read Our Latest Report on Vertiv

Vertiv Stock Up 0.5 %

VRT opened at $92.77 on Wednesday. Vertiv Holdings Co has a 1 year low of $24.66 and a 1 year high of $109.27. The firm has a 50 day moving average price of $94.59 and a 200 day moving average price of $76.72. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market cap of $34.73 billion, a PE ratio of 89.20, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58.

Vertiv (NYSE:VRTGet Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 44.95%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Vertiv Holdings Co will post 2.43 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a dividend of $0.025 per share. The ex-dividend date was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. Vertiv’s payout ratio is currently 9.62%.

Insider Buying and Selling

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares of the company’s stock, valued at approximately $752,296,488.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $93.75, for a total value of $4,331,812.50. Following the sale, the executive vice president now directly owns 23,003 shares in the company, valued at $2,156,531.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,162,739 shares of company stock valued at $400,713,362. Corporate insiders own 5.01% of the company’s stock.

Vertiv Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding VRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertiv Holdings Co (NYSE:VRTFree Report).

Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

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