Harel Insurance Investments & Financial Services Ltd. Grows Stock Position in Vertiv Holdings Co (NYSE:VRT)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 43.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,428 shares of the company’s stock after acquiring an additional 2,850 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Vertiv were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in 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 acquiring an additional 4,558,306 shares during the period. Wellington Management Group LLP boosted its holdings in Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after buying an additional 2,860,181 shares during the last quarter. Castle Hook Partners LP raised its holdings in shares of Vertiv by 215.6% during the third quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after acquiring an additional 1,273,746 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Vertiv in the third quarter worth approximately $110,517,000. Finally, Blue Whale Capital LLP purchased a new stake in shares of Vertiv during the third quarter worth approximately $93,481,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Vertiv Trading Down 4.9 %

NYSE:VRT opened at $146.03 on Friday. The stock has a fifty day moving average price of $127.76 and a 200 day moving average price of $104.99. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12-month low of $52.40 and a 12-month high of $155.84. The firm has a market cap of $54.81 billion, a PE ratio of 97.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. Sell-side analysts anticipate that Vertiv Holdings Co will post 2.7 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.10%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analyst Ratings Changes

Several brokerages have issued reports on VRT. Barclays initiated coverage on shares of Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. TD Cowen raised their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI decreased their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Morgan Stanley assumed coverage on Vertiv in a report on Monday, January 6th. They set an “overweight” rating and a $150.00 price target for the company. Finally, Fox Advisors initiated coverage on shares of Vertiv in a research report on Monday, January 6th. They issued an “equal weight” rating on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Vertiv presently has an average rating of “Moderate Buy” and an average target price of $141.75.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 86,619 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This 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 Jan Van Dokkum sold 38,647 shares of Vertiv stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the sale, the director now owns 25,000 shares in the company, valued at $3,409,750. This represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,527 shares of company stock worth $23,105,682. 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.