Jennison Associates LLC Has $457.70 Million Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Jennison Associates LLC boosted its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 10,825.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,600,415 shares of the company's stock after acquiring an additional 4,558,306 shares during the period. Jennison Associates LLC owned 1.23% of Vertiv worth $457,695,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VRT. Krane Funds Advisors LLC bought a new stake in Vertiv during the 3rd quarter valued at $29,000. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the second quarter worth about $26,000. Global Trust Asset Management LLC purchased a new position in Vertiv during the 3rd quarter worth approximately $30,000. Mather Group LLC. raised its position in Vertiv by 132.5% during the second 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. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Vertiv in the third quarter worth approximately $36,000. 89.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen boosted their price target on Vertiv from $115.00 to $141.00 and gave the company a "buy" rating in a report on Tuesday. Oppenheimer increased their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group started coverage on Vertiv in a report on Wednesday, November 13th. They set a "buy" rating and a $155.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Vertiv in a research note on Monday, October 7th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $138.50.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 10,542 shares of the company's stock, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.01% of the company's stock.

Vertiv Trading Down 2.4 %

Shares of Vertiv stock traded down $3.40 on Wednesday, hitting $137.54. The stock had a trading volume of 10,491,186 shares, compared to its average volume of 8,202,358. The stock has a 50 day moving average of $107.65 and a 200 day moving average of $94.27. 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 $41.01 and a twelve month high of $141.76. The firm has a market capitalization of $51.62 billion, a P/E ratio of 91.19, a PEG ratio of 1.31 and a beta of 1.58.

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

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This is a positive change from Vertiv's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.11%. Vertiv's dividend payout ratio (DPR) is presently 6.67%.

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.