Algebris UK Ltd. Acquires New Holdings in Vertiv Holdings Co. $VRT

Algebris UK Ltd. bought a new position in Vertiv Holdings Co. (NYSE:VRT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,366 shares of the company’s stock, valued at approximately $809,000.

Several other hedge funds have also modified their holdings of VRT. Abundance Wealth Counselors raised its position in shares of Vertiv by 313.7% in the 3rd quarter. Abundance Wealth Counselors now owns 10,165 shares of the company’s stock valued at $1,533,000 after purchasing an additional 7,708 shares during the last quarter. Union Bancaire Privee UBP SA increased its stake in Vertiv by 35.5% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 272,608 shares of the company’s stock valued at $41,126,000 after purchasing an additional 71,361 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Vertiv by 5.5% in the third quarter. KLP Kapitalforvaltning AS now owns 143,100 shares of the company’s stock worth $21,588,000 after buying an additional 7,400 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Vertiv by 100.1% during the second quarter. Nordea Investment Management AB now owns 3,246,769 shares of the company’s stock worth $415,132,000 after buying an additional 1,624,456 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Vertiv by 134.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 291,036 shares of the company’s stock worth $37,372,000 after buying an additional 167,152 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertiv

In related news, EVP Stephen Liang sold 5,501 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $170.48, for a total value of $937,810.48. Following the completion of the transaction, the executive vice president owned 4,050 shares of the company’s stock, valued at approximately $690,444. This represents a 57.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VRT. JPMorgan Chase & Co. cut their target price on Vertiv from $230.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. The Goldman Sachs Group raised their price objective on Vertiv from $182.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. TD Cowen reaffirmed a “buy” rating and set a $211.00 target price on shares of Vertiv in a report on Monday, December 1st. Morgan Stanley increased their price target on shares of Vertiv from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Oppenheimer lifted their price objective on shares of Vertiv from $190.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $187.89.

Vertiv Stock Up 0.8%

VRT stock opened at $182.55 on Monday. Vertiv Holdings Co. has a one year low of $53.60 and a one year high of $202.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.43 and a current ratio of 1.83. The firm’s fifty day moving average is $170.74 and its 200 day moving average is $157.08. The firm has a market cap of $69.80 billion, a PE ratio of 68.89, a P/E/G ratio of 1.12 and a beta of 2.06.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.0625 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, November 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.1%. Vertiv’s payout ratio is 9.43%.

About Vertiv

Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.

The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.