Renaissance Technologies LLC Purchases 169,700 Shares of Vertiv Holdings Co (NYSE:VRT)

Renaissance Technologies LLC grew its position in shares of Vertiv Holdings Co (NYSE:VRT - Free Report) by 7.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,524,112 shares of the company's stock after acquiring an additional 169,700 shares during the quarter. Renaissance Technologies LLC owned about 0.67% of Vertiv worth $218,512,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bogart Wealth LLC bought a new position in Vertiv during the first quarter valued at $25,000. Atticus Wealth Management LLC bought a new position in shares of Vertiv during the 1st quarter valued at approximately $27,000. Mather Group LLC. raised its holdings in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company's stock valued at $29,000 after buying an additional 200 shares during the period. OFI Invest Asset Management bought a new stake in Vertiv in the second quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Vertiv in the first quarter worth $34,000. Institutional investors own 89.92% of the company's stock.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 10,542 shares of the company's stock, valued at $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRT. TD Cowen increased their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Mizuho raised shares of Vertiv from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI restated an "outperform" rating and set a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $102.13.

Vertiv Trading Up 1.4 %

Shares of Vertiv stock traded up $1.23 on Monday, hitting $86.99. 6,039,666 shares of the company traded hands, compared to its average volume of 8,562,659. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a market cap of $32.56 billion, a PE ratio of 83.64, a PEG ratio of 1.08 and a beta of 1.58. The stock's 50 day moving average price is $79.75 and its 200-day moving average price is $84.77. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Equities research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

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

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.