Assenagon Asset Management S.A. Boosts Stake in Vertiv Holdings Co (NYSE:VRT)

Assenagon Asset Management S.A. increased its stake in Vertiv Holdings Co (NYSE:VRT - Free Report) by 244.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,984 shares of the company's stock after purchasing an additional 29,804 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Vertiv were worth $2,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VRT. FMR LLC increased its stake in Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company's stock worth $1,757,198,000 after buying an additional 30,511,907 shares in the last quarter. Vanguard Group Inc. increased its stake in Vertiv by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company's stock worth $1,176,590,000 after buying an additional 3,417,710 shares in the last quarter. BlackRock Inc. increased its stake in Vertiv by 32.8% in the 1st quarter. BlackRock Inc. now owns 18,988,356 shares of the company's stock worth $265,836,000 after buying an additional 4,693,256 shares in the last quarter. Starboard Value LP purchased a new stake in Vertiv in the 4th quarter worth $230,880,000. Finally, Clearbridge Investments LLC increased its stake in Vertiv by 9.5% in the 1st quarter. Clearbridge Investments LLC now owns 14,099,958 shares of the company's stock worth $197,399,000 after buying an additional 1,226,985 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Vertiv Trading Up 5.8 %

VRT traded up $4.64 on Friday, hitting $85.34. The company had a trading volume of 7,971,476 shares, compared to its average volume of 7,474,589. The company has a market cap of $32.60 billion, a PE ratio of 72.32, a PEG ratio of 1.36 and a beta of 1.59. Vertiv Holdings Co has a 12-month low of $11.95 and a 12-month high of $88.69. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The business's fifty day simple moving average is $69.17 and its 200 day simple moving average is $52.40.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. Equities research analysts expect that Vertiv Holdings Co will post 2.35 EPS for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date was Monday, March 18th. Vertiv's payout ratio is currently 8.47%.

Insiders Place Their Bets

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares of the company's stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. Bank of America raised their price objective on Vertiv from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Evercore ISI raised their price objective on Vertiv from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday. Mizuho raised their price objective on Vertiv from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, February 22nd. Oppenheimer initiated coverage on Vertiv in a research report on Friday. They set an "outperform" rating and a $96.00 price objective for the company. Finally, Citigroup raised their price objective on Vertiv from $49.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, December 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.33.

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.