Point72 Hong Kong Ltd Takes $3.26 Million Position in Vertiv Holdings Co (NYSE:VRT)

Point72 Hong Kong Ltd purchased a new position in Vertiv Holdings Co (NYSE:VRT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,665 shares of the company's stock, valued at approximately $3,257,000.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in Vertiv in the 4th quarter worth about $597,379,000. Norges Bank purchased a new stake in shares of Vertiv in the fourth quarter valued at approximately $391,777,000. Jennison Associates LLC boosted its holdings in shares of Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company's stock valued at $880,971,000 after purchasing an additional 3,153,932 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Vertiv by 136.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company's stock worth $379,101,000 after purchasing an additional 1,928,275 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Vertiv by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company's stock worth $4,130,415,000 after purchasing an additional 1,244,780 shares during the period. Hedge funds and other institutional investors own 89.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRT shares. Morgan Stanley decreased their target price on Vertiv from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Roth Mkm initiated coverage on Vertiv in a report on Tuesday, April 8th. They issued a "buy" rating and a $75.00 price objective for the company. Melius lowered shares of Vertiv from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Tuesday, January 28th. Citigroup cut their target price on shares of Vertiv from $153.00 to $98.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI reduced their price target on shares of Vertiv from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, January 17th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertiv currently has an average rating of "Moderate Buy" and an average price target of $120.38.

Vertiv Price Performance

Shares of NYSE VRT opened at $109.13 on Thursday. Vertiv Holdings Co has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The company has a market cap of $41.59 billion, a PE ratio of 85.26, a P/E/G ratio of 1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.65. The business has a 50-day simple moving average of $81.68 and a two-hundred day simple moving average of $106.15.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. Vertiv's revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. As a group, equities analysts expect that Vertiv Holdings Co will post 3.59 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, March 18th. Vertiv's payout ratio is 8.72%.

Insider Buying and Selling

In related news, insider Karsten Winther sold 5,500 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. This represents a 22.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

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