Concentric Capital Strategies LP Increases Stock Position in Vertiv Holdings Co (NYSE:VRT)

Concentric Capital Strategies LP increased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 588.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company’s stock after buying an additional 85,477 shares during the period. Concentric Capital Strategies LP’s holdings in Vertiv were worth $9,949,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new position in shares of Vertiv in the 2nd quarter valued at about $26,000. Mather Group LLC. lifted its holdings 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 acquiring an additional 200 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter valued at approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of Vertiv during the third quarter valued at approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in shares of Vertiv by 200.0% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Trading Up 0.5 %

Shares of VRT stock opened at $127.60 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The firm has a fifty day moving average of $114.87 and a 200-day moving average of $96.26. Vertiv Holdings Co has a 52-week low of $42.50 and a 52-week high of $145.67. The stock has a market cap of $47.89 billion, a price-to-earnings ratio of 85.07, a P/E/G ratio of 1.31 and a beta of 1.58.

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. 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 company’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VRT. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Oppenheimer boosted their target price on shares of 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 raised their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group started coverage on Vertiv in a report on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $138.50.

Insider Buying and Selling at Vertiv

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents a 81.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jakki L. Haussler sold 15,347 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,451 shares of company stock valued at $26,699,153. 5.01% of the stock is currently owned by insiders.

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.