Fmr LLC Sells 11,669,655 Shares of Vertiv Holdings Co (NYSE:VRT)

Fmr LLC lessened its holdings in Vertiv Holdings Co (NYSE:VRT) by 48.9% during the third quarter, HoldingsChannel reports. The firm owned 12,188,541 shares of the company’s stock after selling 11,669,655 shares during the quarter. Fmr LLC’s holdings in Vertiv were worth $1,212,638,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of VRT. Jennison Associates LLC boosted its holdings in shares of Vertiv by 10,825.0% in the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv in the 2nd quarter valued at $331,091,000. Blue Whale Capital LLP acquired a new stake in shares of Vertiv in the 3rd quarter valued at $93,481,000. Swedbank AB boosted its holdings in shares of Vertiv by 247.5% in the 2nd quarter. Swedbank AB now owns 674,493 shares of the company’s stock valued at $58,391,000 after purchasing an additional 480,394 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Vertiv during the 3rd quarter valued at $43,771,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the sale, the insider now directly owns 19,448 shares of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,832 shares of company stock valued at $15,346,000. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen raised their price objective on 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 report on Tuesday, November 19th. Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup raised their price objective on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America raised their price objective on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Down 0.3 %

Shares of NYSE:VRT opened at $131.67 on Wednesday. The firm has a market cap of $49.42 billion, a P/E ratio of 87.78, a P/E/G ratio of 1.36 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67. The business has a fifty day simple moving average of $112.73 and a 200 day simple moving average of $95.67.

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

Vertiv Increases Dividend

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

Vertiv 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.