Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Vertiv Holdings Co (NYSE:VRT) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,524,112 shares of the company’s stock after purchasing an additional 169,700 shares during the quarter. Renaissance Technologies LLC owned about 0.67% of Vertiv worth $218,512,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Menard Financial Group LLC lifted its holdings in Vertiv by 18.4% in the second quarter. Menard Financial Group LLC now owns 5,277 shares of the company’s stock worth $457,000 after purchasing an additional 820 shares during the period. Quantbot Technologies LP acquired a new stake in Vertiv in the 2nd quarter valued at about $7,573,000. Dimensional Fund Advisors LP lifted its holdings in Vertiv by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,473,204 shares of the company’s stock valued at $214,112,000 after acquiring an additional 355,059 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Vertiv in the 2nd quarter valued at about $331,091,000. Finally, Envestnet Asset Management Inc. raised its holdings in Vertiv by 12.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 352,548 shares of the company’s stock worth $30,520,000 after buying an additional 38,822 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

VRT has been the topic of several recent analyst reports. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a report on Thursday, August 15th. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $95.00 to $92.00 in a report on Wednesday, August 7th. TD Cowen increased their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $102.13.

Vertiv Stock Performance

Shares of Vertiv stock opened at $85.76 on Monday. The firm has a fifty day moving average of $79.75 and a two-hundred day moving average of $84.77. The stock has a market capitalization of $32.10 billion, a price-to-earnings ratio of 82.46, a PEG ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

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

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is 9.62%.

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.