Bridgewater Associates LP Acquires 278,874 Shares of Vertiv Holdings Co (NYSE:VRT)

Bridgewater Associates LP raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 590.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,095 shares of the company’s stock after purchasing an additional 278,874 shares during the quarter. Bridgewater Associates LP owned 0.09% of Vertiv worth $32,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Krane Funds Advisors LLC purchased a new position in Vertiv in the third quarter worth about $29,000. Anchor Investment Management LLC bought a new position in shares of Vertiv during the 2nd quarter valued at approximately $26,000. Global Trust Asset Management LLC purchased a new stake in Vertiv during the 3rd quarter valued at $30,000. Brooklyn Investment Group bought a new stake in Vertiv in the third quarter worth $30,000. Finally, Mather Group LLC. boosted its stake in Vertiv by 132.5% during the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Jakki L. Haussler sold 15,347 shares of Vertiv 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 transaction, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anand Sanghi sold 30,914 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now owns 19,448 shares of the company’s stock, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,832 shares of company stock valued at $15,346,000 over the last 90 days. Corporate insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of VRT stock opened at $131.67 on Wednesday. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 87.78, a P/E/G ratio of 1.36 and a beta of 1.58. 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 twelve month low of $41.01 and a twelve month high of $145.67. The stock has a fifty day simple moving average of $112.73 and a two-hundred day simple moving average of $95.67.

Vertiv (NYSE:VRT) last issued 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. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts predict that Vertiv Holdings Co will post 2.69 EPS 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 dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VRT shares. Evercore ISI increased their target price on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Oppenheimer increased their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, TD Cowen upped their price objective on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv presently has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Company 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.