Jennison Associates LLC Purchases 20,663 Shares of Vertiv Holdings Co (NYSE:VRT)

Jennison Associates LLC raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 169.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,878 shares of the company’s stock after acquiring an additional 20,663 shares during the quarter. Jennison Associates LLC’s holdings in Vertiv were worth $1,579,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its stake in Vertiv by 22.1% during the fourth quarter. Handelsbanken Fonder AB now owns 72,900 shares of the company’s stock worth $3,501,000 after purchasing an additional 13,200 shares during the period. CWM LLC grew its position in shares of Vertiv by 64.1% during the 4th quarter. CWM LLC now owns 6,941 shares of the company’s stock worth $333,000 after buying an additional 2,710 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Vertiv in the 4th quarter valued at $1,436,000. abrdn plc increased its stake in shares of Vertiv by 56.0% in the 4th quarter. abrdn plc now owns 75,424 shares of the company’s stock valued at $3,623,000 after acquiring an additional 27,087 shares in the last quarter. Finally, Geneva Partners LLC bought a new position in Vertiv during the fourth quarter worth $975,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Price Performance

VRT opened at $93.49 on Friday. Vertiv Holdings Co has a 1 year low of $13.73 and a 1 year high of $95.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company has a market capitalization of $35.71 billion, a price-to-earnings ratio of 89.89, a P/E/G ratio of 1.37 and a beta of 1.59. The firm’s fifty day moving average price is $76.51 and its two-hundred day moving average price is $57.47.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, analysts anticipate that Vertiv Holdings Co will post 2.31 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is currently 9.62%.

Analysts Set New Price Targets

VRT has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America upped their price target on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. raised their price objective on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup upped their target price on Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI lifted their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.11.

Insiders Place Their Bets

In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Vertiv Company 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.