Vaughan Nelson Investment Management L.P. Has $10.75 Million Position in Vertiv Holdings Co (NYSE:VRT)

Vaughan Nelson Investment Management L.P. reduced its position in shares of Vertiv Holdings Co (NYSE:VRT) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,005 shares of the company’s stock after selling 14,961 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Vertiv were worth $10,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC boosted its position in shares of Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares during the period. Whittier Trust Co. grew its stake in Vertiv by 7.2% in the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after purchasing an additional 8,579 shares in the last quarter. Janney Capital Management LLC bought a new position in Vertiv in the third quarter valued at approximately $8,403,000. Assenagon Asset Management S.A. grew its stake in Vertiv by 190.7% in the third quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in Vertiv by 42.4% in the third quarter. Entropy Technologies LP now owns 31,839 shares of the company’s stock valued at $3,168,000 after purchasing an additional 9,479 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRT. Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised 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. UBS Group began coverage on Vertiv in a research note on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price target for the company. Bank of America raised their price target on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI lifted their target price on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $125.40.

Vertiv Stock Performance

NYSE:VRT opened at $120.87 on Monday. The stock has a market cap of $45.37 billion, a P/E ratio of 80.58, a PEG ratio of 1.31 and a beta of 1.58. The stock has a 50 day simple moving average of $105.37 and a 200 day simple moving average of $93.71. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 1-year low of $41.01 and a 1-year high of $130.30.

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

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.08%. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value 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. The trade was a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is currently owned by insiders.

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.