Vertiv Holdings Co (NYSE:VRT) is Hardman Johnston Global Advisors LLC’s 8th Largest Position

Hardman Johnston Global Advisors LLC lowered its holdings in Vertiv Holdings Co (NYSE:VRT) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 808,839 shares of the company’s stock after selling 164,642 shares during the quarter. Vertiv makes up 3.2% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 8th biggest position. Hardman Johnston Global Advisors LLC owned 0.22% of Vertiv worth $80,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRT. Anchor Investment Management LLC bought a new position in Vertiv in the second quarter worth about $26,000. Mather Group LLC. raised its stake in shares of Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Vertiv during the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new stake in Vertiv during the third quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in Vertiv in the second quarter valued at approximately $34,000. 89.92% of the stock is currently owned by institutional investors.

Vertiv Price Performance

Shares of VRT opened at $112.57 on Wednesday. The business’s 50-day moving average is $98.13 and its two-hundred day moving average is $91.70. The company has a market capitalization of $42.25 billion, a P/E ratio of 75.05, a P/E/G ratio of 1.16 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $38.68 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating 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 company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $0.52 earnings per share. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. Research analysts predict that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRT shares. Mizuho raised their price objective on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their price target on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group began coverage on shares of Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 target price on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $122.11.

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.