Vertiv Holdings Co (NYSE:VRT) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

28 Nov 2024, 13:56 by Michael Walen · The Markets Daily

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Vertiv Holdings Co (NYSE:VRT – Free Report) by 297.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908,251 shares of the company’s stock after purchasing an additional 679,565 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.24% of Vertiv worth $90,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRT. Jennison Associates LLC increased its holdings in shares of Vertiv by 10,825.0% in the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock valued at $457,695,000 after buying an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the second quarter worth $331,091,000. Westfield Capital Management Co. LP lifted its holdings in shares of Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after purchasing an additional 40,696 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Vertiv by 15.4% in the 2nd quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after purchasing an additional 340,639 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Vertiv by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock worth $218,512,000 after purchasing an additional 169,700 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Price Performance

NYSE:VRT opened at $126.96 on Thursday. 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 Holdings Co has a one year low of $41.01 and a one year high of $145.67. The company has a fifty day moving average price of $113.52 and a 200 day moving average price of $95.89. The stock has a market cap of $47.65 billion, a P/E ratio of 84.64, a PEG ratio of 1.36 and a beta of 1.58.

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

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Analysts Set New Price Targets

VRT has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Vertiv from $134.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Mizuho upped their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Oppenheimer upped their price objective on shares of Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Evercore ISI raised their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group initiated coverage on Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Vertiv presently has an average rating of “Buy” and an average price target of $138.50.

Check Out Our Latest Report on Vertiv

Insider Activity

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

About Vertiv

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