Vertiv Holdings Co (NYSE:VRT) is Needham Investment Management LLC’s 7th Largest Position

Needham Investment Management LLC boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 288,000 shares of the company’s stock after acquiring an additional 26,500 shares during the quarter. Vertiv comprises about 2.2% of Needham Investment Management LLC’s holdings, making the stock its 7th largest holding. Needham Investment Management LLC owned approximately 0.08% of Vertiv worth $28,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in Vertiv in the third quarter worth $29,000. Anchor Investment Management LLC bought a new position in Vertiv during the second quarter valued at about $26,000. Global Trust Asset Management LLC bought a new position in Vertiv during the third quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC boosted its position in shares of Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Vertiv in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 171,527 shares of company stock worth $23,105,682 over the last 90 days. Company insiders own 5.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VRT shares. Bank of America increased their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Stock Up 1.1 %

VRT traded up $1.40 on Tuesday, hitting $128.41. 1,400,216 shares of the company were exchanged, compared to its average volume of 8,144,342. Vertiv Holdings Co has a 12 month low of $43.66 and a 12 month high of $145.67. The company has a market cap of $48.20 billion, a PE ratio of 84.69, a PEG ratio of 1.31 and a beta of 1.61. 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 stock’s fifty day moving average is $114.87 and its 200-day moving average is $96.26.

Vertiv (NYSE:VRT) last released 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. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. Vertiv’s revenue was up 19.0% on a year-over-year basis. Equities research analysts predict that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed 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 positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.12%. Vertiv’s dividend payout ratio is currently 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.