Bamco Inc. NY Decreases Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Bamco Inc. NY lowered its position in shares of Vertiv Holdings Co (NYSE:VRT) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,550,000 shares of the company’s stock after selling 250,000 shares during the period. Vertiv comprises about 0.9% of Bamco Inc. NY’s investment portfolio, making the stock its 22nd biggest holding. Bamco Inc. NY owned approximately 0.95% of Vertiv worth $353,190,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VRT. Jennison Associates LLC grew its position 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 worth $457,695,000 after buying an additional 4,558,306 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the second quarter valued at $331,091,000. Westfield Capital Management Co. LP increased its position in Vertiv by 1.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after purchasing an additional 40,696 shares during the period. Fred Alger Management LLC raised its holdings in Vertiv by 24.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,320,425 shares of the company’s stock worth $330,349,000 after purchasing an additional 652,436 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Vertiv by 15.4% during the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRT shares. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. TD Cowen raised their target price on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America increased their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target 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. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average price target of $138.50.

Vertiv Stock Performance

Shares of Vertiv stock opened at $127.60 on Monday. Vertiv Holdings Co has a 1 year low of $42.50 and a 1 year high of $145.67. The firm’s 50-day moving average is $114.87 and its 200 day moving average is $96.26. The stock has a market cap of $47.89 billion, a price-to-earnings ratio of 85.07, a PEG ratio of 1.31 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 EPS 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 paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Insider Transactions at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,451 shares of company stock worth $26,699,153 over the last quarter. 5.01% of the stock is currently owned by insiders.

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.