Why Vertiv (VRTV) Shares Are Soaring Today - Vertiv Holdings (NYSE:VRT)

Vertiv Holdings Co VRT shareholder and activist investor Starboard disclosed a 7.4% active stake in the company.
Vertiv is a supplier of equipment and services for data centers.
Starboard is likely seeking operational improvements at Vertiv, Bloomberg reports.
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Starboard had discussions with Vertiv's leadership and appears to support its focus on improving profitability under Chair David Cote and Giordano Albertazzi, who will take over as CEO in 2023.
Vertiv, previously a division of Emerson Electric Company EMR, went public in 2020 via a merger with a SPAC backed by Goldman Sachs Group Inc. and led by Cote.
Vertiv's shares had fallen 54% this year through October 19 amid a pullback in spending for data centers, higher costs, and lingering supply chain issues.
In October, Vertiv cut its profit forecast for the fourth quarter, primarily due to foreign exchange headwinds.
The company revised its Q4 adjusted operating profit guidance to $220 million - $240 million, down $22.5 million at the mid-point of the prior range.
Price Action: VRT shares traded higher by 15.50% at $13.17 on the last check Thursday.