Vertiv Holdings Co (NYSE:VRT) Shares Sold by Otter Creek Advisors LLC

by · The Markets Daily

Otter Creek Advisors LLC cut its stake in Vertiv Holdings Co (NYSE:VRT – Free Report) by 36.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,923 shares of the company’s stock after selling 44,556 shares during the period. Vertiv accounts for about 5.0% of Otter Creek Advisors LLC’s portfolio, making the stock its 3rd largest position. Otter Creek Advisors LLC’s holdings in Vertiv were worth $7,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new stake in Vertiv in the 2nd quarter worth $26,000. Mather Group LLC. increased its holdings in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in Vertiv in the 3rd quarter worth $29,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the third quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Vertiv during the second quarter worth $34,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Trading Up 3.1 %

NYSE VRT opened at $141.75 on Friday. The firm’s 50-day moving average is $109.85 and its two-hundred day moving average is $94.90. Vertiv Holdings Co has a 12 month low of $41.01 and a 12 month high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The stock has a market capitalization of $53.20 billion, a P/E ratio of 94.50, a PEG ratio of 1.53 and a beta of 1.58.

Vertiv (NYSE:VRT – Get Free Report) last posted its earnings results 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 company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio is currently 6.67%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VRT shares. Mizuho upped their target price on shares of Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen upped their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI upped their target price on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Vertiv in a report on Wednesday, November 13th. They issued a “buy” rating and a $155.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $138.50.

Get Our Latest Analysis on Vertiv

Vertiv Company Profile

(Free Report)

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.

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