Vertiv Holdings Co (NYSE:VRT) is Otter Creek Advisors LLC’s Largest Position

Otter Creek Advisors LLC raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 22.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,479 shares of the company’s stock after buying an additional 22,698 shares during the quarter. Vertiv comprises approximately 6.9% of Otter Creek Advisors LLC’s portfolio, making the stock its biggest position. Otter Creek Advisors LLC’s holdings in Vertiv were worth $10,603,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of VRT. Norges Bank purchased a new position in shares of Vertiv in the 4th quarter worth about $185,339,000. Price T Rowe Associates Inc. MD grew its stake in shares of Vertiv by 303.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Coatue Management LLC grew its stake in shares of Vertiv by 19.5% during the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the period. Vanguard Group Inc. grew its stake in shares of Vertiv by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the period. Finally, Castle Hook Partners LP bought a new stake in shares of Vertiv during the 1st quarter valued at about $135,987,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VRT shares. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and cut their price target for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen upped their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Bank of America upped their price target on Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $96.22.

Vertiv Stock Down 4.5 %

Shares of VRT opened at $71.77 on Friday. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 69.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $34.60 and a 1 year high of $109.27. The business’s 50 day simple moving average is $80.72 and its 200-day simple moving average is $84.02. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. As a group, equities analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.14%. Vertiv’s payout ratio is presently 9.62%.

About Vertiv

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.