Driehaus Capital Management LLC Lowers Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Driehaus Capital Management LLC decreased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 26.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,501 shares of the company’s stock after selling 95,333 shares during the period. Driehaus Capital Management LLC owned approximately 0.07% of Vertiv worth $22,465,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VRT. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv during the second quarter valued at about $331,091,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares during the period. Coatue Management LLC increased its holdings in shares of Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares during the period. Vanguard Group Inc. increased its holdings in shares of Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the period. Finally, Castle Hook Partners LP purchased a new position in shares of Vertiv in the first quarter worth about $135,987,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Vertiv Stock Down 2.2 %

Shares of NYSE:VRT opened at $98.41 on Friday. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The company has a market cap of $36.84 billion, a PE ratio of 94.63, a P/E/G ratio of 1.26 and a beta of 1.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The stock’s 50-day moving average is $80.81 and its 200 day moving average is $86.34.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. Sell-side analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.10%. Vertiv’s payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen lifted their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group decreased their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $102.13.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.01% of the company’s stock.

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.