Horizon Kinetics Asset Management LLC Acquires Shares of 15,330 Vertiv Holdings Co (NYSE:VRT)

Horizon Kinetics Asset Management LLC bought a new position in Vertiv Holdings Co (NYSE:VRT) during the 3rd quarter, Holdings Channel reports. The fund bought 15,330 shares of the company’s stock, valued at approximately $1,525,000.

Several other large investors have also recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in Vertiv in the 2nd quarter worth approximately $26,000. Mather Group LLC. increased its position in Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Vertiv during the third quarter valued at $29,000. Global Trust Asset Management LLC bought a new position in Vertiv during the third quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of Vertiv in the 2nd quarter worth $34,000. 89.92% of the stock is owned by institutional investors.

Vertiv Stock Down 5.8 %

NYSE:VRT opened at $132.03 on Tuesday. The company has a market cap of $49.56 billion, a price-to-earnings ratio of 88.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $145.67. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $111.84 and a 200-day simple moving average of $95.42.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is 6.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRT. TD Cowen increased their price target on shares of Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Oppenheimer raised their price objective on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Mizuho raised their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup lifted their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.50.

Insiders Place Their Bets

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This represents a 61.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 80.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,185 shares of company stock worth $10,074,936 in the last ninety days. 5.01% of the stock is owned by company insiders.

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.