Nuveen LLC Purchases Shares of 1,077,840 Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Nuveen LLC acquired a new position in Vertiv Holdings Co., purchasing 1,077,840 shares valued at approximately $77.8 million, equating to around 0.28% ownership in the company.
• According to recent analyst reports, Vertiv has received increasing price targets and favorable ratings from multiple firms, including Roth Capital, which raised its price target from $100 to $157.
• Vertiv recently announced a dividend increase to $0.0375 per share, reflecting a dividend yield of 14.0%, substantially higher than its previous dividend of $0.01.

Nuveen LLC purchased a new stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,077,840 shares of the company's stock, valued at approximately $77,820,000. Nuveen LLC owned approximately 0.28% of Vertiv at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VRT. GW&K Investment Management LLC bought a new position in shares of Vertiv during the first quarter worth about $26,000. North Star Investment Management Corp. lifted its position in shares of Vertiv by 4,120.0% during the first quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock worth $30,000 after purchasing an additional 412 shares during the last quarter. Sachetta LLC lifted its position in shares of Vertiv by 242.0% during the first quarter. Sachetta LLC now owns 448 shares of the company's stock worth $32,000 after purchasing an additional 317 shares during the last quarter. Colonial Trust Co SC lifted its position in shares of Vertiv by 211.9% during the fourth quarter. Colonial Trust Co SC now owns 315 shares of the company's stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of Vertiv during the fourth quarter worth about $37,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karsten Winther sold 41,654 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the completion of the transaction, the insider directly owned 18,848 shares in the company, valued at approximately $2,529,590.08. The trade was a 68.85% 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.

Vertiv Price Performance

Vertiv stock traded down $4.95 during trading hours on Thursday, hitting $132.45. 8,116,607 shares of the stock were exchanged, compared to its average volume of 7,774,719. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.35 and a current ratio of 1.74. The stock has a market capitalization of $50.58 billion, a P/E ratio of 63.37, a P/E/G ratio of 1.21 and a beta of 1.77. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84. The business's 50-day moving average is $127.77 and its two-hundred day moving average is $105.01.

Vertiv (NYSE:VRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Vertiv's revenue was up 35.1% compared to the same quarter last year. Equities research analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Vertiv's previous dividend of $0.01. This represents a yield of 14.0%. Vertiv's payout ratio is 7.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Citigroup increased their price target on shares of Vertiv from $130.00 to $149.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Mizuho raised their target price on shares of Vertiv from $125.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. William Blair started coverage on shares of Vertiv in a report on Monday, July 28th. They issued an "outperform" rating on the stock. Finally, Roth Capital raised their target price on shares of Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.06.

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.