Independent Advisor Alliance Acquires 27,426 Shares of Vertiv Holdings Co (NYSE:VRT)

Independent Advisor Alliance grew its stake in Vertiv Holdings Co (NYSE:VRT) by 68.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,743 shares of the company’s stock after buying an additional 27,426 shares during the quarter. Independent Advisor Alliance’s holdings in Vertiv were worth $6,740,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Vertiv by 1,019.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after purchasing an additional 3,649 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Vertiv by 37.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,535 shares of the company’s stock worth $942,000 after buying an additional 3,114 shares during the period. LRI Investments LLC acquired a new stake in Vertiv in the 1st quarter valued at approximately $48,000. Lazard Asset Management LLC lifted its stake in Vertiv by 1,569.5% in the 1st quarter. Lazard Asset Management LLC now owns 158,723 shares of the company’s stock valued at $12,961,000 after acquiring an additional 149,216 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Vertiv by 303.1% in the first 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 in the last quarter. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on VRT. Bank of America increased their price target on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price target on Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Mizuho upped their price target on shares of Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Stock Performance

NYSE:VRT opened at $140.15 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $52.60 billion, a PE ratio of 93.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $41.01 and a twelve month high of $145.67. The stock’s 50-day simple moving average is $110.94 and its 200 day simple moving average is $95.18.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. On average, analysts anticipate that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. This is a positive change from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 3rd. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity

In other news, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total transaction of $4,373,094.44. Following the completion of the transaction, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total transaction of $2,108,370.86. Following the sale, the director now directly owns 3,425 shares of the company’s stock, valued at $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,185 shares of company stock valued at $10,074,936 over the last quarter. 5.01% of the stock is owned by company insiders.

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.