Cerity Partners LLC Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Cerity Partners LLC boosted its holdings in Vertiv Holdings Co (NYSE:VRT) by 25.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,729 shares of the company’s stock after buying an additional 9,086 shares during the period. Cerity Partners LLC’s holdings in Vertiv were worth $4,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRT. Jennison Associates LLC grew its position in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Vertiv during the 2nd quarter valued at about $331,091,000. Swedbank AB increased its position in shares of Vertiv by 247.5% during the second quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after buying an additional 480,394 shares during the period. Ceredex Value Advisors LLC bought a new position in shares of Vertiv in the third quarter valued at approximately $43,771,000. Finally, Citigroup Inc. grew its stake in Vertiv by 262.7% during the third quarter. Citigroup Inc. now owns 599,502 shares of the company’s stock valued at $59,644,000 after acquiring an additional 434,216 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 3.6 %

Shares of VRT opened at $126.94 on Friday. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. 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 50 day simple moving average of $114.21 and a two-hundred day simple moving average of $96.11. The firm has a market cap of $47.65 billion, a P/E ratio of 84.63, a P/E/G ratio of 1.36 and a beta of 1.58.

Vertiv (NYSE:VRT) 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 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%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, analysts forecast 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. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,451 shares of company stock worth $26,699,153 in the last ninety days. 5.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VRT shares. The Goldman Sachs Group increased their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price for the company. JPMorgan Chase & Co. raised their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Oppenheimer boosted their price objective on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $138.50.

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.