Hollow Brook Wealth Management LLC Acquires 567 Shares of Vertiv Holdings Co (NYSE:VRT)

Hollow Brook Wealth Management LLC lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,822 shares of the company’s stock after acquiring an additional 567 shares during the period. Vertiv makes up about 1.2% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. Hollow Brook Wealth Management LLC’s holdings in Vertiv were worth $4,161,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Jennison Associates LLC lifted its stake in Vertiv by 10,825.0% during the third quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Vertiv in the 2nd quarter worth approximately $331,091,000. Castle Hook Partners LP lifted its position in shares of Vertiv by 215.6% during the 3rd quarter. Castle Hook Partners LP now owns 1,864,426 shares of the company’s stock worth $185,492,000 after buying an additional 1,273,746 shares during the period. Blue Whale Capital LLP acquired a new stake in Vertiv in the 3rd quarter valued at $93,481,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vertiv by 297.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 908,251 shares of the company’s stock valued at $90,362,000 after acquiring an additional 679,565 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRT has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup raised their price objective on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America lifted their target price 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. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $138.50.

Vertiv Stock Performance

VRT stock opened at $128.28 on Monday. The company has a 50 day moving average price of $114.87 and a 200 day moving average price of $96.26. The stock has a market capitalization of $48.15 billion, a PE ratio of 85.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. Vertiv Holdings Co has a fifty-two week low of $43.66 and a fifty-two week high of $145.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Vertiv’s revenue was up 19.0% on a year-over-year basis. Analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is 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 sale, the insider now owns 19,448 shares of the company’s stock, valued at $2,751,114.08. This trade represents a 61.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total transaction of $11,353,152.33. Following the completion of the sale, the executive vice president now directly owns 19,551 shares in the company, valued at $2,562,549.57. This represents a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,451 shares of company stock valued at $26,699,153 in the last ninety days. 5.01% of the stock is owned by 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.