Perfromance Wealth Partners LLC Invests $4.16 Million in Vertiv Holdings Co (NYSE:VRT)

Perfromance Wealth Partners LLC acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, HoldingsChannel reports. The fund acquired 36,640 shares of the company’s stock, valued at approximately $4,163,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VRT. State Street Corp increased its holdings in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock valued at $759,614,000 after purchasing an additional 308,704 shares in the last quarter. Geode Capital Management LLC increased its holdings in Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Jennison Associates LLC increased its holdings 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 purchasing an additional 4,558,306 shares in the last quarter. Wellington Management Group LLP increased 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 valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Vertiv by 1.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after purchasing an additional 40,696 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VRT shares. The Goldman Sachs Group increased their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays began coverage on Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price for the company. TD Cowen raised their target price on Vertiv from $115.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley began coverage on Vertiv in a research note on Monday, January 6th. They set an “overweight” rating and a $150.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.75.

Insiders Place Their Bets

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction that occurred 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 $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is owned by insiders.

Vertiv Price Performance

NYSE VRT opened at $143.16 on Wednesday. Vertiv Holdings Co has a 12 month low of $52.40 and a 12 month high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a market capitalization of $53.73 billion, a PE ratio of 95.44, a P/E/G ratio of 1.06 and a beta of 1.63. The company’s 50 day simple moving average is $126.25 and its 200 day simple moving average is $103.98.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that Vertiv Holdings Co will post 2.7 EPS for the current fiscal year.

Vertiv Increases Dividend

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

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.