Vertiv Holdings Co. $VRT Stake Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Vertiv Holdings Co. (NYSE:VRT) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,785,185 shares of the company’s stock after selling 93,194 shares during the quarter. Pictet Asset Management Holding SA owned 0.46% of Vertiv worth $431,008,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp boosted its position in shares of Vertiv by 4.5% during the second quarter. State Street Corp now owns 16,531,530 shares of the company’s stock valued at $5,535,087,000 after buying an additional 704,970 shares during the period. Wellington Management Group LLP lifted its stake in Vertiv by 14.1% in the second quarter. Wellington Management Group LLP now owns 3,794,360 shares of the company’s stock worth $1,270,428,000 after acquiring an additional 468,380 shares during the period. Legal & General Group Plc lifted its position in shares of Vertiv by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 2,138,967 shares of the company’s stock worth $716,169,000 after purchasing an additional 23,444 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Vertiv by 1.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,709,276 shares of the company’s stock valued at $678,890,000 after acquiring an additional 51,328 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Vertiv by 33.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,410,642 shares of the company’s stock valued at $604,059,000 after acquiring an additional 608,176 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the subject of several recent research reports. TD Cowen boosted their price target on Vertiv from $356.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on Vertiv from $331.00 to $323.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. KeyCorp reduced their price objective on Vertiv from $360.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Mizuho set a $300.00 price objective on Vertiv in a research note on Thursday, October 29th. Finally, Citigroup boosted their target price on shares of Vertiv from $358.00 to $362.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $337.78.

Key Vertiv News

Here are the key news stories impacting Vertiv this week:

• Positive Sentiment: Vertiv’s recent quarter reportedly beat revenue estimates by about $550 million, delivered record results and came with raised guidance. One Wall Street team argues the selloff may overstate the threat because orders have not yet been affected. Vertiv Beat by $550 Million Last Week. It Has Lost 23% Since Tuesday’s Vote Vertiv Suffered a Near 40% Drop Over 6 Months
• Positive Sentiment: A report says Vertiv has locked in three years of AI power-chip supply. Securing supply could help the company serve continued demand for data-center infrastructure. Vertiv Holdings Co Locked In Three Years Of AI Power Chip Supply
• Neutral Sentiment: Zacks describes VRT as a strong growth stock, but its article highlights a research-service stock-rating framework rather than a new company development. Here’s Why Vertiv Holdings Co. Is a Strong Growth Stock
• Negative Sentiment: The main near-term pressure is concern that the election outcome and potential data-center permitting limits, including a reported Texas permit freeze, could restrain AI infrastructure spending. The reports indicate this is a prospective risk; they do not establish that Vertiv’s orders have declined. Steve Weiss Says the Midterms Just Put a Lid on AI Spending
• Negative Sentiment: Broader weakness in AI-related stocks and ETFs may be adding to pressure on VRT, while the article notes the shares have lost about 23% since Tuesday’s vote. Some of the Year’s Hottest AI ETFs Are in Big Trouble Today

Insider Buying and Selling

In related news, Director Edward Monser sold 15,287 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $253.82, for a total value of $3,880,146.34. Following the completion of the transaction, the director directly owned 16,500 shares of the company’s stock, valued at approximately $4,188,030. This represents a 48.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Vertiv Trading Up 3.3%

VRT stock opened at $182.49 on Friday. Vertiv Holdings Co. has a 12-month low of $147.82 and a 12-month high of $379.93. The business’s 50-day moving average is $236.97 and its 200 day moving average is $269.74. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The stock has a market cap of $70.26 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 0.58 and a beta of 2.11.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 28th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.39. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Vertiv had a return on equity of 53.31% and a net margin of 15.99%. The business’s revenue was up 61.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, sell-side analysts anticipate that Vertiv Holdings Co. will post 7.17 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Monday, September 14th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, September 14th. Vertiv’s payout ratio is presently 4.67%.

About Vertiv

Vertiv Holdings Co (NYSE: VRT) designs, manufactures and services critical digital infrastructure used by data centers, communications networks and commercial and industrial facilities. Its offerings help customers maintain reliable power, cooling and operating conditions for technology systems.

The company’s products and solutions include uninterruptible power supplies, power distribution equipment, thermal management systems, racks, integrated modular infrastructure, and monitoring and control software.