Point72 Asset Management L.P. Makes New Investment in Vertiv Holdings Co (NYSE:VRT)

Point72 Asset Management L.P. acquired a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 359,275 shares of the company’s stock, valued at approximately $40,817,000. Point72 Asset Management L.P. owned about 0.10% of Vertiv at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in VRT. Massachusetts Financial Services Co. MA bought a new position in Vertiv during the fourth quarter valued at about $597,379,000. Norges Bank bought a new position in Vertiv during the fourth quarter valued at about $391,777,000. Jennison Associates LLC grew its position in Vertiv by 68.6% during the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock valued at $880,971,000 after buying an additional 3,153,932 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Vertiv by 136.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,336,862 shares of the company’s stock valued at $379,101,000 after buying an additional 1,928,275 shares during the period. Finally, Vanguard Group Inc. grew its position in Vertiv by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 36,356,089 shares of the company’s stock valued at $4,130,415,000 after buying an additional 1,244,780 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Trading Down 3.5%

Shares of VRT opened at $105.69 on Friday. The firm’s 50 day simple moving average is $82.24 and its 200 day simple moving average is $106.10. The company has a market capitalization of $40.28 billion, a P/E ratio of 82.57, a P/E/G ratio of 1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.65 and a quick ratio of 1.02. Vertiv Holdings Co has a 1-year low of $53.60 and a 1-year high of $155.84.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.19% and a return on equity of 61.41%. Vertiv’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Sell-side analysts forecast that Vertiv Holdings Co will post 3.59 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 18th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 18th. Vertiv’s dividend payout ratio is currently 8.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Vertiv from $132.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Roth Mkm assumed coverage on shares of Vertiv in a research report on Tuesday, April 8th. They set a “buy” rating and a $75.00 target price for the company. Roth Capital upgraded shares of Vertiv to a “strong-buy” rating in a research report on Monday, April 7th. Royal Bank of Canada assumed coverage on shares of Vertiv in a research report on Friday, March 7th. They set an “outperform” rating and a $121.00 target price for the company. Finally, Barclays cut their target price on shares of Vertiv from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertiv currently has an average rating of “Moderate Buy” and an average price target of $120.38.

Insider Buying and Selling

In other news, insider Karsten Winther sold 5,500 shares of Vertiv stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.33, for a total value of $518,815.00. Following the transaction, the insider now owns 18,847 shares in the company, valued at approximately $1,777,837.51. The trade was a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.01% of the stock is owned by corporate 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.