Assenagon Asset Management S.A. Purchases 36,684 Shares of Vertiv Holdings Co (NYSE:VRT)

Assenagon Asset Management S.A. increased its position in Vertiv Holdings Co (NYSE:VRT) by 190.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,923 shares of the company’s stock after purchasing an additional 36,684 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Vertiv were worth $5,564,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC raised its position in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after purchasing an additional 92 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Vertiv by 0.9% in the third quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after buying an additional 112 shares in the last quarter. Callan Family Office LLC increased its stake in shares of Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock valued at $1,491,000 after buying an additional 137 shares in the last quarter. Optimum Investment Advisors raised its holdings in shares of Vertiv by 11.1% in the third quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $149,000 after buying an additional 150 shares during the last quarter. Finally, First Community Trust NA lifted its position in Vertiv by 12.1% during the 3rd quarter. First Community Trust NA now owns 1,446 shares of the company’s stock worth $144,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America upped their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Citigroup lifted their target price on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen upped their price target on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv presently has an average rating of “Buy” and an average price target of $122.11.

Vertiv Stock Up 0.2 %

Shares of Vertiv stock opened at $113.83 on Wednesday. Vertiv Holdings Co has a 12 month low of $36.40 and a 12 month high of $116.41. The business has a fifty day simple moving average of $95.01 and a 200 day simple moving average of $90.67. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market cap of $42.70 billion, a PE ratio of 109.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction 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 owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

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.