Senator Investment Group LP Sells 228,449 Shares of Vertiv Holdings Co. $VRT

Key Points

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Senator Investment Group LP lessened its holdings in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 90.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,809 shares of the company's stock after selling 228,449 shares during the quarter. Senator Investment Group LP's holdings in Vertiv were worth $1,647,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Vertiv by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 37,715,159 shares of the company's stock valued at $2,723,034,000 after buying an additional 1,359,070 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Vertiv by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,839,864 shares of the company's stock valued at $205,085,000 after buying an additional 182,937 shares during the last quarter. Northern Trust Corp raised its holdings in Vertiv by 21.9% in the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock valued at $308,251,000 after buying an additional 487,909 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Vertiv by 54.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,314,934 shares of the company's stock valued at $263,000,000 after buying an additional 812,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Vertiv by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock valued at $240,051,000 after buying an additional 77,859 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

Vertiv Stock Performance

Shares of VRT stock opened at $135.60 on Tuesday. The company has a market cap of $51.78 billion, a price-to-earnings ratio of 64.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77. Vertiv Holdings Co. has a 52 week low of $53.60 and a 52 week high of $155.84. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $128.59 and a 200-day moving average of $105.22.

Vertiv (NYSE:VRT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $0.67 EPS. Vertiv's revenue was up 35.1% compared to the same quarter last year. On average, equities analysts forecast that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

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

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total value of $5,590,383.34. Following the completion of the sale, the insider owned 18,848 shares of the company's stock, valued at approximately $2,529,590.08. This trade represents a 68.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRT. KGI Securities began coverage on shares of Vertiv in a report on Thursday, April 24th. They issued a "hold" rating for the company. Melius upgraded shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a report on Tuesday, July 8th. Wolfe Research restated an "outperform" rating and set a $155.00 price target on shares of Vertiv in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Vertiv from $127.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Oppenheimer raised their price target on shares of Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target 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.

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