Steven Reinemund, a director at Vertiv Holdings Co (NYSE:VRT), recently sold a substantial portion of his holdings in the company. According to an SEC filing, Reinemund sold a total of 100,000 shares of the company's Class A common stock on November 20, 2024, generating approximately $13.65 million. The transactions were executed at prices ranging from $135.0174 to $140.0039 per share.
Following these sales, Reinemund holds 233,333 shares indirectly through The Reinemund Community Property Trust and 35,000 shares directly. Vertiv Holdings Co, headquartered in Westerville, Ohio, specializes in electronic components and related manufacturing.
In other recent news, Vertiv Holdings Co. has been the subject of several positive analyst adjustments. Wolfe Research maintained an Outperform rating for Vertiv and increased the price target to $149.00, following the company's 2024 Investor Event. Vertiv's updated five-year plan projects an increase in organic growth CAGR to 12-14% from 2024 to 2029 and anticipates approximately $14.4 billion in sales by 2029. The company also aims for a margin target of about 25% in 2029.
Oppenheimer also expressed confidence in Vertiv's future performance, increasing its price target for the company's shares to $131.00 and maintaining an Outperform rating. The firm noted Vertiv's increased growth, margin, and cash generation expectations. Mizuho (NYSE:MFG) Securities also increased its price target for Vertiv's shares to $145.00, maintaining an Outperform rating, following positive insights from Vertiv's 2024 Investor Day.
UBS began coverage of Vertiv, forecasting a 20% compounded annual growth in earnings per share (EPS) from 2024 to 2028. The firm cited Vertiv's focus on data centers, which account for 75% of its revenues, as a significant strength. Vertiv also announced the promotion of Scott Armul to executive vice president, global portfolio, and business units, effective January 1, 2025. These are recent developments that may influence Vertiv's future performance.
InvestingPro Insights
As Steven Reinemund's significant share sale unfolds, Vertiv Holdings Co (NYSE:VRT) continues to demonstrate strong financial performance. According to InvestingPro data, the company's revenue grew by 13.2% over the last twelve months, reaching $7.53 billion. This growth is further emphasized by an impressive 18.99% quarterly revenue increase in Q3 2024.
Vertiv's profitability metrics are equally noteworthy. The company boasts a gross profit margin of 36.48% and an operating income margin of 16.15% for the last twelve months. These figures underscore Vertiv's ability to maintain healthy profit levels amidst its growth trajectory.
InvestingPro Tips highlight that Vertiv's net income is expected to grow this year, with 12 analysts revising their earnings upwards for the upcoming period. This positive outlook aligns with the company's recent performance and may explain the high investor interest despite Reinemund's share sale.
It's worth noting that Vertiv's stock has shown remarkable performance, with a 222.5% total return over the past year. This exceptional growth has pushed the stock's P/E ratio to 91.53, indicating high investor expectations for future earnings.
For investors seeking a more comprehensive analysis, InvestingPro offers 20 additional tips for Vertiv Holdings Co, providing deeper insights into the company's financial health and market position.
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