Swedbank AB Acquires 156,503 Shares of Vertiv Holdings Co (NYSE:VRT)

Swedbank AB boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 830,996 shares of the company’s stock after acquiring an additional 156,503 shares during the period. Swedbank AB owned 0.22% of Vertiv worth $82,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jennison Associates LLC lifted its stake in shares of Vertiv by 10,825.0% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA bought a new position in Vertiv in the second quarter worth $331,091,000. Price T Rowe Associates Inc. MD lifted its position in Vertiv by 303.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after buying an additional 3,591,903 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Vertiv by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock valued at $245,189,000 after buying an additional 451,830 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Vertiv in the 3rd quarter worth about $43,771,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on VRT shares. The Goldman Sachs Group boosted their price target on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI increased their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. UBS Group started coverage on shares of Vertiv in a research report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $138.50.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This represents a 80.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,185 shares of company stock valued at $10,074,936. Insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE VRT opened at $140.15 on Monday. The company has a market cap of $52.60 billion, a PE ratio of 93.43, a PEG 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. The firm’s 50-day moving average price is $110.94 and its 200-day moving average price is $95.18. Vertiv Holdings Co has a 52-week low of $41.01 and a 52-week high of $145.67.

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

Vertiv Increases Dividend

The firm also recently announced 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. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is 6.67%.

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.