Investment Management Corp of Ontario Acquires 20,681 Shares of Vertiv Holdings Co (NYSE:VRT)

Investment Management Corp of Ontario lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 145.9% in the third quarter, HoldingsChannel.com reports. The fund owned 34,860 shares of the company’s stock after acquiring an additional 20,681 shares during the period. Investment Management Corp of Ontario’s holdings in Vertiv were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Clearbridge Investments LLC increased its position 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 during the last quarter. Whittier Trust Co. increased its holdings in Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock worth $12,656,000 after buying an additional 8,579 shares during the last quarter. Janney Capital Management LLC purchased a new stake in Vertiv during the third quarter worth about $8,403,000. Assenagon Asset Management S.A. boosted its stake in Vertiv by 190.7% in 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 last quarter. Finally, KBC Group NV boosted its stake in Vertiv by 46.8% in the third quarter. KBC Group NV now owns 76,932 shares of the company’s stock valued at $7,654,000 after acquiring an additional 24,526 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on VRT shares. Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Mizuho lifted their price objective on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $138.50.

Insider Transactions at Vertiv

In related news, Director Jan Van Dokkum sold 38,647 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.39, for a total value of $5,271,064.33. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $3,409,750. This trade represents a 60.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,527 shares of company stock worth $23,105,682. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of Vertiv stock opened at $128.14 on Wednesday. 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 Holdings Co has a one year low of $43.66 and a one year high of $145.67. The business’s 50 day simple moving average is $116.11 and its two-hundred day simple moving average is $96.69. The stock has a market capitalization of $48.10 billion, a P/E ratio of 85.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Vertiv (NYSE:VRT) last issued its 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. The company 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 firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend 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.