Jennison Associates LLC Has $880.97 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Jennison Associates LLC lifted its position in shares of Vertiv Holdings Co (NYSE:VRT) by 68.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,754,347 shares of the company’s stock after buying an additional 3,153,932 shares during the quarter. Jennison Associates LLC owned about 2.07% of Vertiv worth $880,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Vertiv by 4.2% in the third quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after purchasing an additional 308,704 shares during the period. Geode Capital Management LLC boosted its position in shares of Vertiv by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock worth $592,433,000 after purchasing an additional 408,054 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Vertiv by 271.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after buying an additional 2,860,181 shares during the period. Westfield Capital Management Co. LP increased its position in Vertiv by 1.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock valued at $359,315,000 after buying an additional 40,696 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in Vertiv by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,320,425 shares of the company’s stock worth $330,349,000 after buying an additional 652,436 shares during the period. Institutional investors own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

VRT has been the subject of several recent research reports. Barclays started coverage on Vertiv in a report on Thursday, December 12th. They set an “equal weight” rating and a $142.00 price objective for the company. Bank of America boosted 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 objective on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Fox Advisors started coverage on shares of Vertiv in a research report on Monday, January 6th. They set an “equal weight” rating for the company. Finally, Citigroup raised their price target on shares of Vertiv from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Vertiv Stock Performance

Shares of Vertiv stock opened at $117.14 on Monday. The business’s fifty day simple moving average is $125.62 and its 200 day simple moving average is $106.30. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Vertiv Holdings Co has a 12 month low of $55.00 and a 12 month high of $155.84. The firm has a market capitalization of $43.97 billion, a P/E ratio of 78.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64.

Vertiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were paid 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 was Tuesday, December 3rd. Vertiv’s payout ratio is presently 6.67%.

Insider Buying and Selling

In other news, EVP Stephen Liang sold 86,619 shares of Vertiv stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now directly owns 19,551 shares in the company, valued at approximately $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $137.38, for a total value of $2,108,370.86. Following the sale, the director now owns 3,425 shares in the company, valued at approximately $470,526.50. The trade was a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,527 shares of company stock valued at $23,105,682. 5.01% of the stock is owned by insiders.

Vertiv 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.