Fintel reports that Platinum Equity has filed a 13D/A form with the SEC disclosing ownership of 18.07MM shares of Vertiv Holdings Co – Class A (VRT). This represents 4.7% of the company.
In their previous filing dated November 8, 2021 they reported 37.96MM shares and 10.80% of the company, a decrease in shares of 52.39% and a decrease in total ownership of 6.10% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 25.84% Downside
As of August 2, 2023, the average one-year price target for Vertiv Holdings Co – is 26.86. The forecasts range from a low of 14.14 to a high of $36.75. The average price target represents a decrease of 25.84% from its latest reported closing price of 36.22.
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The projected annual revenue for Vertiv Holdings Co – is 6,097MM, a decrease of 4.60%. The projected annual non-GAAP EPS is 1.11.
What is the Fund Sentiment?
There are 606 funds or institutions reporting positions in Vertiv Holdings Co -. This is an increase of 45 owner(s) or 8.02% in the last quarter. Average portfolio weight of all funds dedicated to VRT is 0.43%, a decrease of 1.69%. Total shares owned by institutions decreased in the last three months by 4.14% to 379,852K shares. The put/call ratio of VRT is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
Platinum Equity Advisors holds 37,955K shares representing 9.97% ownership of the company. No change in the last quarter.
Barrow Hanley Mewhinney & Strauss holds 32,138K shares representing 8.45% ownership of the company. In it’s prior filing, the firm reported owning 32,921K shares, representing a decrease of 2.44%. The firm increased its portfolio allocation in VRT by 5.40% over the last quarter.
Starboard Value holds 16,819K shares representing 4.42% ownership of the company. In it’s prior filing, the firm reported owning 16,902K shares, representing a decrease of 0.50%. The firm increased its portfolio allocation in VRT by 9.60% over the last quarter.
Invesco holds 12,621K shares representing 3.32% ownership of the company. In it’s prior filing, the firm reported owning 10,556K shares, representing an increase of 16.36%. The firm decreased its portfolio allocation in VRT by 88.96% over the last quarter.
Clearbridge Investments holds 12,267K shares representing 3.22% ownership of the company. In it’s prior filing, the firm reported owning 15,121K shares, representing a decrease of 23.26%. The firm decreased its portfolio allocation in VRT by 17.78% over the last quarter.
Vertiv Holdings Background Information
(This description is provided by the company.)
Vertiv brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. As Architects of Continuity™, Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Columbus, Ohio, USA, Vertiv employs approximately 20,000 people and does business in more than 130 countries.
This article originally appeared on Fintel
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