Vertiv Holdings Co (NYSE:VRT) Stock Holdings Reduced by Otter Creek Advisors LLC

Otter Creek Advisors LLC reduced its stake in Vertiv Holdings Co (NYSE:VRT) by 36.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,923 shares of the company’s stock after selling 44,556 shares during the period. Vertiv accounts for about 5.0% of Otter Creek Advisors LLC’s holdings, making the stock its 3rd biggest position. Otter Creek Advisors LLC’s holdings in Vertiv were worth $7,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new position in Vertiv in the second quarter valued at approximately $26,000. Mather Group LLC. increased its stake in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Vertiv in the third quarter valued at approximately $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the third quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of Vertiv during the second quarter worth approximately $34,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho raised their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. TD Cowen raised their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Oppenheimer increased their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $138.50.

Vertiv Price Performance

Vertiv stock opened at $141.75 on Friday. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $145.67. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The business has a fifty day moving average of $109.85 and a two-hundred day moving average of $94.90. The company has a market cap of $53.20 billion, a P/E ratio of 94.50, a price-to-earnings-growth ratio of 1.53 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 analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 6.67%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.01% of the stock is owned by corporate insiders.

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.