Appian Way Asset Management LP Buys Shares of 87,000 Vertiv Holdings Co (NYSE:VRT)

Appian Way Asset Management LP acquired a new stake in shares of Vertiv Holdings Co (NYSE:VRT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 87,000 shares of the company’s stock, valued at approximately $8,656,000. Vertiv comprises 1.9% of Appian Way Asset Management LP’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new position in shares of Vertiv in the 2nd quarter valued at approximately $26,000. Mather Group LLC. lifted its stake in shares of Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Vertiv during the third quarter valued at $29,000. Global Trust Asset Management LLC acquired a new position in shares of Vertiv in the 3rd quarter valued at $30,000. Finally, Brooklyn Investment Group purchased a new position in Vertiv in the 3rd quarter worth $30,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vertiv

In related news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction dated 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of Vertiv stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,451 shares of company stock worth $26,699,153. Insiders own 5.01% of the company’s stock.

Vertiv Stock Up 0.5 %

VRT stock opened at $127.62 on Friday. The firm has a market cap of $47.90 billion, a PE ratio of 85.08, a PEG ratio of 1.31 and a beta of 1.58. 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 one year low of $42.50 and a one year high of $145.67. The firm’s 50 day moving average price is $114.87 and its 200-day moving average price is $96.34.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VRT shares. UBS Group initiated coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho lifted their price target on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, TD Cowen upped their price objective on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $138.50.

About Vertiv

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.