Zurcher Kantonalbank Zurich Cantonalbank Has $90.36 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 297.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 908,251 shares of the company’s stock after buying an additional 679,565 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Vertiv were worth $90,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC raised its position in 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 last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv during the second quarter worth approximately $331,091,000. Westfield Capital Management Co. LP grew its stake in shares of Vertiv by 1.1% during the third 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 last quarter. Clearbridge Investments LLC increased its holdings in shares of Vertiv by 15.4% in the second 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. Finally, Renaissance Technologies LLC raised its position in Vertiv by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock worth $218,512,000 after purchasing an additional 169,700 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This trade represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,451 shares of company stock valued at $26,699,153 over the last 90 days. 5.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Vertiv Stock Performance

VRT stock opened at $126.96 on Thursday. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $145.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm has a market cap of $47.65 billion, a PE ratio of 84.64, a P/E/G ratio of 1.36 and a beta of 1.58. The business’s 50-day moving average price is $113.52 and its two-hundred day moving average price is $95.89.

Vertiv (NYSE:VRT) last announced 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 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 quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. As a group, research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company 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 $0.0375 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s payout ratio is presently 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.