Avalon Global Asset Management LLC Grows Stock Position in Vertiv Holdings Co (NYSE:VRT)

Avalon Global Asset Management LLC lifted its stake in Vertiv Holdings Co (NYSE:VRT) by 122.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,000 shares of the company’s stock after buying an additional 55,000 shares during the quarter. Vertiv makes up 1.5% of Avalon Global Asset Management LLC’s holdings, making the stock its 19th largest position. Avalon Global Asset Management LLC’s holdings in Vertiv were worth $9,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VRT. ORG Partners LLC grew its stake in shares of Vertiv by 25.1% during the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock worth $46,000 after purchasing an additional 92 shares during the period. Allworth Financial LP grew its position in Vertiv by 18.6% during the third quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 100 shares during the period. NBC Securities Inc. raised its position in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock worth $1,305,000 after acquiring an additional 112 shares during the period. Nvwm LLC boosted its stake in shares of Vertiv by 1.3% during the 3rd quarter. Nvwm LLC now owns 10,035 shares of the company’s stock worth $998,000 after acquiring an additional 124 shares in the last quarter. Finally, Callan Family Office LLC grew its position in shares of Vertiv by 0.9% during the 3rd quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after acquiring an additional 137 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VRT shares. Jefferies Financial Group assumed coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. Citigroup upped their target price on Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Mizuho lifted their target price on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $138.50.

Vertiv Trading Up 0.5 %

VRT opened at $127.60 on Monday. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company’s 50 day simple moving average is $114.87 and its two-hundred day simple moving average is $96.26. Vertiv Holdings Co has a 1-year low of $42.50 and a 1-year 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.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Analysts expect that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company 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 $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 86,619 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. This represents a 81.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 80.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,451 shares of company stock worth $26,699,153. Insiders own 5.01% of the company’s stock.

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.