Investing

Vertiv Jumps 10% After Activist Jeff Smith's Starboard Reveals 7.4% Stake

Activist investor Jeff Smith’s Starboard Value LP filed a 13D form with the SEC on Thursday, a 28.8 million share, or 7.4% stake disclosing ownership of digital infrastructure firm Vertiv Holdings, LLC class A (VRT) common shares.

Starboard said it might have discussions with the company about multiple opportunities to make the business more efficient and valuable.

Vertiv shares rose more than 10% on Thursday after the news.

GS Acquisition Holdings took Vertiv public in 2020 via a special purpose acquisition vehicle (SPAC) transaction.

Smith unveiled stakes in Salesforce and Splunk.’

What are other large shareholders doing?

Platinum Equity Advisors, LLC/DE holds 37,955,215 shares representing 10.07% ownership of the company. No change in the last quarter.

Barrow Hanley Mewhinney & Strauss LLC holds 32,876,094 shares representing 8.72% ownership of the company. In its prior filing, the firm reported owning 31,821,637 shares, representing an increase of 3.21%. The firm decreased its portfolio allocation in VRT by 71.93% over the last quarter.

Vanguard Group Inc holds 26,655,664 shares representing 7.07% ownership of the company. In its prior filing, the firm reported owning 26,601,906 shares, representing an increase of 0.20%. The firm decreased its portfolio allocation in VRT by 30.08% over the last quarter.

BlackRock Inc. holds 19,227,692 shares representing 5.10% ownership of the company. The firm reported owning 18,988,356 shares in its prior filing, representing an increase of 1.24%. The firm decreased its portfolio allocation in VRT by 29.20% over the last quarter.

Fmr LLC holds 18,474,773 shares representing 4.90% ownership of the company. In its prior filing, the firm reported owning 14,633,428 shares, representing an increase of 20.79%. The firm decreased its portfolio allocation in VRT by 81.70% over the last quarter.

What is the overall institutional sentiment?

There are 600 funds or institutions reporting positions in Vertiv Holdings, LLC class A. This is an increase of 7 owner(s) or 1.18%.

The average portfolio weight of all funds dedicated to Vertiv Holdings, LLC class A is 0.3211%, a decrease of 14.2148%. Total shares owned by institutions decreased in the last three months by 2.42% to 397,272,338 shares.

This article originally appeared on Fintel

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.