Caprock Group LLC Buys New Shares in Vertiv Holdings Co (NYSE:VRT)

Caprock Group LLC bought a new stake in shares of Vertiv Holdings Co (NYSE:VRT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,109 shares of the company’s stock, valued at approximately $409,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Clearbridge Investments LLC raised its holdings in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after acquiring an additional 340,639 shares during the period. Whittier Trust Co. raised its holdings in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares during the period. Janney Capital Management LLC acquired a new stake in shares of Vertiv during the third quarter valued at approximately $8,403,000. Assenagon Asset Management S.A. raised its holdings in shares of Vertiv by 190.7% during the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after acquiring an additional 36,684 shares during the period. Finally, Entropy Technologies LP raised its holdings in shares of Vertiv by 42.4% during the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after acquiring an additional 9,479 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Stock Performance

Shares of VRT opened at $140.15 on Friday. The company’s fifty day moving average is $110.94 and its 200-day moving average is $95.20. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $145.67. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 93.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.98 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed 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. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Karsten Winther sold 44,924 shares of the stock in a transaction on 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 completion of the sale, 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. In the last three months, insiders sold 91,185 shares of company stock valued at $10,074,936. Company insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VRT shares. Evercore ISI boosted their price target on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Mizuho upped their price objective 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. Finally, UBS Group began coverage on shares of Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $138.50.

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.