Vertiv Holdings Co (NYSE:VRT) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Vertiv Holdings Co (NYSE:VRT - Free Report) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,951,784 shares of the company's stock after buying an additional 408,054 shares during the quarter. Geode Capital Management LLC owned approximately 1.59% of Vertiv worth $592,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in shares of Vertiv in the 2nd quarter worth $26,000. Krane Funds Advisors LLC acquired a new stake in Vertiv during the third quarter worth about $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv in the 3rd quarter worth about $30,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company's stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Vertiv during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Vertiv Stock Up 0.6 %

VRT traded up $0.69 on Friday, reaching $125.73. The company's stock had a trading volume of 11,620,487 shares, compared to its average volume of 8,124,714. Vertiv Holdings Co has a 1 year low of $44.31 and a 1 year high of $145.67. The business's 50 day moving average is $120.03 and its 200 day moving average is $98.07. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a market cap of $47.19 billion, a price-to-earnings ratio of 82.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61.

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

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. This is an increase from Vertiv's previous quarterly dividend of $0.03. Vertiv's payout ratio is presently 6.67%.

Insider Activity

In related news, insider Anand Sanghi sold 30,914 shares of the company'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 sale, the insider now directly owns 19,448 shares of the company's stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares of the company's stock, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a "buy" rating in a report on Monday. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. TD Cowen lifted their target price on shares of Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Barclays began coverage on Vertiv in a report on Thursday. They issued an "equal weight" rating and a $142.00 price target for the company. Finally, Bank of America boosted their price objective on Vertiv from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Vertiv currently has an average rating of "Moderate Buy" and a consensus target price of $140.09.

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.