Vertiv Holdings Co (NYSE:VRT) Stake Reduced by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp decreased its position in shares of Vertiv Holdings Co (NYSE:VRT) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,021 shares of the company’s stock after selling 310 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Vertiv were worth $570,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Jennison Associates LLC increased its stake 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 purchasing an additional 4,558,306 shares during the period. Wellington Management Group LLP increased its position in Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after acquiring an additional 2,860,181 shares during the period. Castle Hook Partners LP increased its position in Vertiv by 215.6% in the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock valued at $185,492,000 after acquiring an additional 1,273,746 shares during the period. Whale Rock Capital Management LLC bought a new stake in Vertiv during the 3rd quarter valued at $110,517,000. Finally, Blue Whale Capital LLP acquired a new position in Vertiv during the 3rd quarter worth $93,481,000. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jan Van Dokkum sold 38,647 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.39, for a total transaction of $5,271,064.33. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at approximately $3,409,750. This trade represents a 60.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anand Sanghi sold 30,914 shares of the company’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 transaction of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares in the company, valued at approximately $2,751,114.08. This represents a 61.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,527 shares of company stock worth $23,105,682. Corporate insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

Shares of NYSE VRT opened at $132.78 on Friday. The stock’s fifty day simple moving average is $125.65 and its 200 day simple moving average is $102.95. The stock has a market capitalization of $49.84 billion, a price-to-earnings ratio of 88.52, a PEG ratio of 0.99 and a beta of 1.63. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 52-week low of $48.86 and a 52-week high of $145.67.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business posted $0.52 EPS. Vertiv’s revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, December 3rd. This is an increase from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is 6.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Fox Advisors began coverage on shares of Vertiv in a report on Monday, January 6th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Mizuho increased their price objective on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays began coverage on Vertiv in a report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. Finally, Oppenheimer lifted their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Vertiv has an average rating of “Moderate Buy” and a consensus target price of $140.92.

Vertiv 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.