Impax Asset Management Group plc Lowers Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Impax Asset Management Group plc lessened its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 497,506 shares of the company’s stock after selling 127,142 shares during the quarter. Impax Asset Management Group plc’s holdings in Vertiv were worth $56,522,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Jennison Associates LLC boosted its stake in Vertiv by 68.6% in the 4th 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 last quarter. State Street Corp boosted its position in shares of 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 acquiring an additional 308,704 shares during the last quarter. Geode Capital Management LLC increased its position in Vertiv by 7.4% during the third 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 during the last quarter. Wellington Management Group LLP raised its stake in Vertiv by 271.0% during the third quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock worth $389,548,000 after purchasing an additional 2,860,181 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of 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 purchasing an additional 40,696 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 86,619 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now owns 19,551 shares in the company, valued at approximately $2,562,549.57. This trade represents 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 this link. Corporate insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of a number of research analyst reports. Citigroup upped their price objective on Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their target price on shares of Vertiv from $126.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI cut their price objective on Vertiv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price objective on Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Fox Advisors began coverage on shares of Vertiv in a research note on Monday, January 6th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Vertiv Stock Down 8.5 %

NYSE:VRT opened at $95.92 on Monday. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average of $120.90 and a 200-day moving average of $110.04. The firm has a market capitalization of $36.00 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.64. Vertiv Holdings Co has a 52 week low of $61.25 and a 52 week high of $155.84.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Vertiv had a return on equity of 61.41% and a net margin of 6.19%. During the same quarter in the prior year, the company posted $0.56 earnings per share. Analysts predict that Vertiv Holdings Co will post 3.59 EPS for the current year.

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.