Sycomore Asset Management Purchases Shares of 117,516 Vertiv Holdings Co (NYSE:VRT)

Sycomore Asset Management acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 117,516 shares of the company’s stock, valued at approximately $10,225,000. Vertiv accounts for about 1.8% of Sycomore Asset Management’s portfolio, making the stock its 20th largest position.

Several other hedge funds have also modified their holdings of the stock. Atticus Wealth Management LLC acquired a new position in shares of Vertiv in the 1st quarter valued at $27,000. Mather Group LLC. increased 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 acquiring an additional 200 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Vertiv in the 2nd quarter worth about $34,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Vertiv in the 1st quarter valued at about $34,000. Finally, RiverPark Advisors LLC acquired a new stake in Vertiv during the 1st quarter worth approximately $35,000. 89.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv Stock Up 1.1 %

Shares of NYSE VRT opened at $99.49 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The stock’s 50-day simple moving average is $81.04 and its 200-day simple moving average is $86.61. The firm has a market cap of $37.24 billion, a price-to-earnings ratio of 95.66, a PEG ratio of 1.26 and a beta of 1.58.

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

Vertiv Dividend Announcement

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

Analysts Set New Price Targets

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

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.