Vertiv Holdings Co. $VRT Shares Purchased by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management has significantly increased its stake in Vertiv Holdings Co. by 93.2%, owning 424,442 shares valued at approximately $30.6 million.
• Several other institutional investors also boosted their positions, with hedge funds now owning nearly 90% of Vertiv's stock.
• Vertiv reported a strong performance in its latest earnings, with revenues of $2.64 billion and earnings per share of $0.95, exceeding analyst expectations.

Tocqueville Asset Management L.P. raised its stake in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 93.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,442 shares of the company's stock after buying an additional 204,697 shares during the period. Tocqueville Asset Management L.P. owned about 0.11% of Vertiv worth $30,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in VRT. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 1,359,070 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vertiv by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,839,864 shares of the company's stock worth $205,085,000 after acquiring an additional 182,937 shares in the last quarter. Northern Trust Corp raised its stake in shares of Vertiv by 21.9% during the 4th quarter. Northern Trust Corp now owns 2,713,234 shares of the company's stock worth $308,251,000 after acquiring an additional 487,909 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Vertiv by 54.1% during 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 worth $263,000,000 after acquiring an additional 812,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Vertiv by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,929 shares of the company's stock worth $240,051,000 after acquiring an additional 77,859 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Vertiv from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Evercore ISI reiterated an "outperform" rating on shares of Vertiv in a research note on Thursday, July 10th. Citigroup boosted their price objective on shares of Vertiv from $130.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating on shares of Vertiv in a research note on Sunday, August 10th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Vertiv in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $144.06.

Vertiv Stock Performance

Shares of NYSE:VRT traded up $0.34 during midday trading on Friday, reaching $132.86. The company's stock had a trading volume of 6,204,076 shares, compared to its average volume of 7,803,008. The firm has a market capitalization of $50.74 billion, a PE ratio of 63.57, a P/E/G ratio of 1.17 and a beta of 1.77. Vertiv Holdings Co. has a twelve month low of $53.60 and a twelve month high of $155.84. The stock has a fifty day moving average of $128.12 and a 200 day moving average of $105.09. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.93.

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. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The firm's revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share. On average, equities analysts expect that Vertiv Holdings Co. will post 3.59 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared 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 a boost from Vertiv's previous dividend of $0.01. This represents a yield of 14.0%. The ex-dividend date was Monday, June 16th. Vertiv's dividend payout ratio (DPR) is 7.18%.

Insider Buying and Selling at Vertiv

In related news, EVP Stephen Liang sold 43,683 shares of the firm's 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 sale, the executive vice president owned 9,551 shares in the company, valued at approximately $1,106,292.33. This trade represents a 82.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karsten Winther sold 41,654 shares of the firm's stock in a transaction 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 sale, the insider owned 18,848 shares in the company, valued at approximately $2,529,590.08. This represents a 68.85% decrease in their position. The disclosure for this sale can be found here. 5.01% 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.