Cerity Partners Expands Stake in Vertiv Holdings to $11.37 Million

Cerity Partners LLC has increased its investment in Vertiv Holdings Co. (NYSE: VRT) by 29.0% during the second quarter of 2023, now holding shares valued at approximately $11.37 million. This significant acquisition comes after the institutional investor added 19,889 shares to its portfolio, bringing its total to 88,559 shares as reported in its latest filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also adjusted their positions in Vertiv recently. For instance, Richard W. Paul & Associates LLC raised its holdings by 0.9%, now owning 8,804 shares valued at $1.13 million after acquiring an additional 79 shares. Similarly, Presidio Capital Management LLC increased its stake by 1.3%, owning 6,010 shares valued at $772,000 following a purchase of 80 shares.

In addition, Glass Jacobson Investment Advisors LLC lifted its stake by 4.0%, holding 2,218 shares valued at $285,000 after acquiring 86 shares. Grandview Asset Management LLC increased its position by 2.8%, with 3,536 shares worth $454,000. Ameriflex Group Inc. also boosted its stake by 14.9%, now owning 770 shares valued at $95,000.

As of now, institutional investors own 89.92% of Vertiv’s stock.

Analysts Adjust Price Targets for Vertiv

Recent reports from various research firms have led to updated price targets for Vertiv. TD Cowen increased its target from $162.00 to $210.00, maintaining a “buy” rating. Similarly, Deutsche Bank Aktiengesellschaft set a price objective of $216.00 with a “buy” rating. The Goldman Sachs Group raised its target from $182.00 to $204.00, also rating the stock as a “buy.”

Mizuho upped its price target from $165.00 to $198.00, giving it an “outperform” rating. The consensus among analysts indicates a “Moderate Buy” rating, with an average price target of $180.48. Currently, two analysts rate the stock as a Strong Buy, twenty as a Buy, six as Hold, and one as Sell.

Recent Insider Transactions

In related news, on November 24, 2023, executive vice president Stephen Liang sold 5,501 shares of Vertiv’s stock at an average price of $170.48, resulting in a transaction valued at $937,810.48. Following this sale, Liang’s remaining shares total 4,050, valued at around $690,444. This transaction represents a 57.60% decrease in his ownership of the stock. Company insiders currently hold 2.63% of Vertiv’s shares.

Vertiv’s Stock Performance and Financial Outlook

As of Thursday, shares of Vertiv opened at $182.07. The company has reported a debt-to-equity ratio of 0.83, a current ratio of 1.83, and a quick ratio of 1.43. Vertiv’s stock has seen a yearly low of $53.60 and a high of $202.45, with a market capitalization of $69.61 billion. The company’s price-to-earnings ratio stands at 68.71, with a P/E/G ratio of 1.43 and a beta of 2.03.

Vertiv released its quarterly earnings data on October 22, 2023, reporting earnings per share (EPS) of $1.24, surpassing the consensus estimate of $0.99 by $0.25. The firm generated revenue of $2.68 billion, exceeding the expected $2.59 billion. Year-over-year, Vertiv’s revenue has increased by 29.0%.

Looking ahead, Vertiv has guided for Q4 2025 EPS between $1.230 and $1.290, while its full-year guidance for FY 2025 is set between $4.070 and $4.130. Analysts project that Vertiv will post an EPS of $3.59 for the current year.

Dividend Announcement

In a recent announcement, Vertiv declared a quarterly dividend of $0.0625, which will be paid on December 18, 2023. Shareholders of record as of November 25, 2023, will receive this dividend, marking an increase from the previous quarterly dividend of $0.04. The annualized dividend now stands at $0.25, yielding 0.1%, with a payout ratio of 9.43%.

Vertiv Holdings Co., along with its subsidiaries, specializes in designing, manufacturing, and servicing critical digital infrastructure technologies and lifecycle services for data centers, communication networks, and various commercial and industrial environments across the Americas, Asia Pacific, Europe, the Middle East, and Africa.