Everence Capital Management Inc. Takes Position in Vertiv Holdings Co (NYSE:VRT)

Everence Capital Management Inc. acquired a new stake in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,590 shares of the company’s stock, valued at approximately $862,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new position in shares of Vertiv during the 2nd quarter worth $26,000. Krane Funds Advisors LLC acquired a new position in Vertiv in the third quarter valued at $29,000. Global Trust Asset Management LLC purchased a new position in Vertiv during the third quarter worth about $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Vertiv during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays initiated coverage on Vertiv in a research report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price target for the company. Citigroup raised their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. TD Cowen boosted their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group started coverage on shares of Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Vertiv presently has an average rating of “Moderate Buy” and a consensus price target of $140.09.

Vertiv Stock Performance

Vertiv stock opened at $125.67 on Friday. Vertiv Holdings Co has a 12-month low of $45.09 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 company has a market capitalization of $47.17 billion, a price-to-earnings ratio of 83.78, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61. The firm’s fifty day moving average price is $122.82 and its 200 day moving average price is $100.68.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. On average, research analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were given a $0.0375 dividend. 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. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Insider Activity

In other Vertiv news, Director Jakki L. Haussler sold 15,347 shares of the 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 transaction, the director now owns 3,425 shares of the company’s stock, valued at $470,526.50. This trade represents a 81.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 171,527 shares of company stock worth $23,105,682. 5.01% of the stock is currently owned by insiders.

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.