Vertiv Holdings Co (NYSE:VRT) Stake Raised by Castle Hook Partners LP

Castle Hook Partners LP boosted its position in Vertiv Holdings Co (NYSE:VRT) by 215.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,864,426 shares of the company’s stock after buying an additional 1,273,746 shares during the period. Vertiv makes up approximately 3.5% of Castle Hook Partners LP’s investment portfolio, making the stock its 8th largest holding. Castle Hook Partners LP owned 0.50% of Vertiv worth $185,492,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VRT. Bayesian Capital Management LP purchased a new stake in Vertiv in the first quarter valued at approximately $456,000. Jacobs Levy Equity Management Inc. purchased a new stake in Vertiv in the first quarter valued at approximately $3,018,000. LRI Investments LLC purchased a new stake in Vertiv in the first quarter valued at approximately $48,000. Swedbank AB purchased a new stake in Vertiv in the 1st quarter worth approximately $15,852,000. Finally, Cetera Investment Advisers grew its stake in shares of Vertiv by 513.6% during the 1st quarter. Cetera Investment Advisers now owns 57,311 shares of the company’s stock worth $4,681,000 after purchasing an additional 47,971 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE:VRT opened at $126.96 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $145.67. The firm has a market capitalization of $47.65 billion, a PE ratio of 84.64, a P/E/G ratio of 1.36 and a beta of 1.58. The business’s 50 day moving average price is $113.52 and its 200-day moving average price is $95.89.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is currently 6.67%.

Analyst Ratings Changes

VRT has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Citigroup lifted their price target on Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus price target of $138.50.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 owns 3,425 shares of the company’s stock, valued at $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,451 shares of company stock valued at $26,699,153. Corporate insiders own 5.01% of the company’s stock.

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.