Adage Capital Partners GP L.L.C. Acquires 70,317 Shares of Vertiv Holdings Co (NYSE:VRT)

Adage Capital Partners GP L.L.C. grew its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 106.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,474 shares of the company's stock after buying an additional 70,317 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Vertiv were worth $15,505,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. MGO One Seven LLC boosted its position in Vertiv by 54.0% in the 4th quarter. MGO One Seven LLC now owns 15,885 shares of the company's stock valued at $1,805,000 after buying an additional 5,573 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in Vertiv by 500.4% in the fourth quarter. Pinebridge Investments L.P. now owns 40,568 shares of the company's stock valued at $4,609,000 after acquiring an additional 33,811 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Vertiv by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock worth $240,051,000 after purchasing an additional 77,859 shares during the period. Quantessence Capital LLC acquired a new stake in Vertiv in the fourth quarter worth about $582,000. Finally, Dilation Capital Management LP bought a new stake in Vertiv during the 4th quarter worth about $4,566,000. 89.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRT shares. Evercore ISI lowered their price target on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. Melius cut shares of Vertiv from a "buy" rating to a "hold" rating and set a $125.00 target price for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their price target on Vertiv from $132.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Roth Capital raised Vertiv to a "strong-buy" rating in a research note on Monday, April 7th. Finally, KGI Securities initiated coverage on Vertiv in a research note on Thursday. They issued a "hold" rating on the stock. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv presently has an average rating of "Moderate Buy" and a consensus price target of $120.38.

Vertiv Stock Performance

NYSE VRT traded down $0.82 during trading on Monday, reaching $86.13. 8,861,150 shares of the company's stock were exchanged, compared to its average volume of 8,988,311. Vertiv Holdings Co has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The stock has a market capitalization of $32.80 billion, a P/E ratio of 67.29, a PEG ratio of 1.07 and a beta of 1.71. The business has a 50 day moving average price of $81.05 and a 200-day moving average price of $107.57. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $0.43 EPS. The company's quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 18th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv's payout ratio is 8.72%.

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.