Generate Investment Management Ltd Cuts Stock Position in Vertiv Holdings Co (NYSE:VRT)

Generate Investment Management Ltd trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 73.8% in the fourth quarter, Holdings Channel reports. The firm owned 156,919 shares of the company’s stock after selling 441,453 shares during the period. Vertiv makes up 1.2% of Generate Investment Management Ltd’s portfolio, making the stock its 26th biggest position. Generate Investment Management Ltd’s holdings in Vertiv were worth $17,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock worth $880,971,000 after buying an additional 3,153,932 shares during the period. State Street Corp boosted its holdings in Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares during the period. Geode Capital Management LLC grew its position in Vertiv by 7.4% in the third quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after acquiring an additional 408,054 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in shares of Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after purchasing an additional 40,696 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Vertiv Trading Up 0.4 %

Vertiv stock opened at $119.49 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. Vertiv Holdings Co has a 1 year low of $55.00 and a 1 year high of $155.84. The firm’s 50-day moving average is $124.52 and its 200-day moving average is $106.87. The company has a market cap of $44.85 billion, a P/E ratio of 79.66, a PEG ratio of 0.92 and a beta of 1.64.

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s dividend payout ratio is presently 6.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRT shares. Evercore ISI lowered their price target on shares of Vertiv from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Fox Advisors started coverage on Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating on the stock. Morgan Stanley assumed coverage on Vertiv in a report on Monday, January 6th. They issued an “overweight” rating and a $150.00 price target for the company. Melius Research restated a “hold” rating and set a $125.00 price objective on shares of Vertiv in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Insider Buying and Selling

In other Vertiv news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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 of the company’s stock, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s 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 completion of the sale, the director now owns 3,425 shares in the company, valued at $470,526.50. The trade was a 81.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,527 shares of company stock valued at $23,105,682. Insiders own 5.01% 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.