Lord Abbett & CO. LLC Buys 202,576 Shares of Vertiv Holdings Co (NYSE:VRT)

Lord Abbett & CO. LLC grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 843,058 shares of the company's stock after buying an additional 202,576 shares during the period. Lord Abbett & CO. LLC owned 0.22% of Vertiv worth $83,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jennison Associates LLC raised its stake in Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company's stock valued at $457,695,000 after acquiring an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the second quarter valued at $331,091,000. Wellington Management Group LLP raised its stake 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 valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Castle Hook Partners LP lifted its holdings in Vertiv by 215.6% in the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company's stock worth $185,492,000 after purchasing an additional 1,273,746 shares during the period. Finally, Whale Rock Capital Management LLC bought a new position in Vertiv in the 3rd quarter valued at about $110,517,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VRT. UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a "buy" rating and a $155.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Jefferies Financial Group started coverage on Vertiv in a research note on Monday, October 7th. They set a "buy" rating and a $125.00 price target for the company. Citigroup boosted their price objective on Vertiv from $141.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Bank of America raised their target price on Vertiv from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.09.

Insider Activity

In related news, EVP Stephen Liang sold 86,619 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now owns 19,551 shares of the company's stock, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anand Sanghi sold 30,914 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company's stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,527 shares of company stock worth $23,105,682 in the last ninety days. Corporate insiders own 5.01% of the company's stock.

Vertiv Stock Up 0.6 %

NYSE:VRT traded up $0.74 during trading hours on Friday, hitting $125.78. 11,623,199 shares of the company's stock traded hands, compared to its average volume of 8,124,714. The stock's fifty day moving average price is $120.45 and its two-hundred day moving average price is $98.16. The firm has a market cap of $47.21 billion, a P/E ratio of 83.85, a P/E/G ratio of 1.29 and a beta of 1.61. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a twelve month low of $44.31 and a twelve month high of $145.67.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Vertiv's previous quarterly dividend of $0.03. Vertiv's dividend payout ratio (DPR) is 6.67%.

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.