Glynn Capital Management LLC Has $15.67 Million Stock Position in Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Glynn Capital Management LLC increased its stake in Vertiv Holdings Co. by 83.1%, now holding 217,023 shares valued at approximately $15.67 million.
• Vertiv recently reported $2.04 billion in quarterly revenue, surpassing analyst expectations of $1.94 billion, with earnings per share at $0.64.
• Numerous analysts have raised their price targets for Vertiv, with Mizuho increasing theirs from $125 to $150 and Oppenheimer raising theirs from $132 to $140.

Glynn Capital Management LLC increased its holdings in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 83.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,023 shares of the company's stock after purchasing an additional 98,469 shares during the period. Vertiv makes up 4.1% of Glynn Capital Management LLC's portfolio, making the stock its 15th biggest position. Glynn Capital Management LLC owned approximately 0.06% of Vertiv worth $15,669,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VRT. Geode Capital Management LLC lifted its stake in Vertiv by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,050,965 shares of the company's stock valued at $688,260,000 after acquiring an additional 99,181 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Vertiv in the 4th quarter valued at approximately $597,379,000. Wellington Management Group LLP lifted its stake in Vertiv by 25.3% in the 4th quarter. Wellington Management Group LLP now owns 4,905,807 shares of the company's stock valued at $557,349,000 after acquiring an additional 990,361 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Vertiv by 4.8% in the 4th quarter. Clearbridge Investments LLC now owns 3,647,326 shares of the company's stock valued at $414,373,000 after acquiring an additional 167,061 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Vertiv during the 4th quarter worth approximately $391,777,000. Institutional investors own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

VRT has been the topic of several recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Vertiv in a research report on Thursday, April 24th. Roth Capital raised Vertiv to a "strong-buy" rating in a research report on Monday, April 7th. UBS Group reaffirmed a "buy" rating on shares of Vertiv in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on Vertiv from $100.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Melius Research raised Vertiv from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $134.00 to $165.00 in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $136.76.

Vertiv Price Performance

Shares of VRT stock traded up $6.65 on Friday, hitting $137.52. 8,225,774 shares of the company's stock were exchanged, compared to its average volume of 6,826,359. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.72 and a quick ratio of 1.28. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The stock has a market cap of $52.41 billion, a P/E ratio of 79.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.75. The company has a 50 day moving average of $118.59 and a 200 day moving average of $104.33.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Vertiv had a return on equity of 56.01% and a net margin of 7.92%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $0.43 EPS. Vertiv's revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts predict that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0375 per share. This is an increase from Vertiv's previous dividend of $0.01. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's dividend payout ratio is currently 8.72%.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 5,500 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the completion of the transaction, the insider directly owned 18,847 shares in the company, valued at approximately $1,777,837.51. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Liang sold 43,683 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $115.83, for a total value of $5,059,801.89. Following the completion of the transaction, the executive vice president owned 9,551 shares of the company's stock, valued at $1,106,292.33. This represents a 82.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company 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.