Jennison Associates LLC Buys 20,663 Shares of Vertiv Holdings Co (NYSE:VRT)

Jennison Associates LLC increased its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 169.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,878 shares of the company’s stock after purchasing an additional 20,663 shares during the quarter. Jennison Associates LLC’s holdings in Vertiv were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in shares of Vertiv by 161.7% in the third quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock worth $25,000 after acquiring an additional 409 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Vertiv in the 4th quarter worth $38,000. TFC Financial Management Inc. bought a new stake in Vertiv during the fourth quarter valued at about $42,000. Clearstead Advisors LLC bought a new stake in Vertiv during the third quarter valued at about $38,000. Finally, Huntington National Bank increased its position in Vertiv by 299.1% in the third quarter. Huntington National Bank now owns 1,329 shares of the company’s stock worth $49,000 after buying an additional 996 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Price Performance

NYSE:VRT opened at $93.49 on Friday. The business’s 50-day moving average is $76.51 and its 200 day moving average is $57.47. Vertiv Holdings Co has a 12 month low of $13.73 and a 12 month high of $95.32. The company has a market capitalization of $35.71 billion, a P/E ratio of 89.89, a P/E/G ratio of 1.37 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. On average, equities research analysts forecast that Vertiv Holdings Co will post 2.31 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is 9.62%.

Insider Buying and Selling

In other news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup increased their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI lifted their target price on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho increased their price target on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Oppenheimer boosted their price objective on Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $81.11.

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.