Varma Mutual Pension Insurance Co Acquires Shares of 35,000 Vertiv Holdings Co (NYSE:VRT)

Varma Mutual Pension Insurance Co bought a new position in shares of Vertiv Holdings Co (NYSE:VRT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,000 shares of the company’s stock, valued at approximately $3,030,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC bought a new stake in Vertiv during the 2nd quarter valued at $319,000. Emerald Advisers LLC purchased a new position in shares of Vertiv during the second quarter valued at $740,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Vertiv in the second quarter valued at about $107,000. Acadian Asset Management LLC lifted its stake in Vertiv by 166.5% in the second quarter. Acadian Asset Management LLC now owns 10,677 shares of the company’s stock worth $922,000 after acquiring an additional 6,670 shares during the period. Finally, Otter Creek Advisors LLC grew its holdings in Vertiv by 22.7% during the 2nd quarter. Otter Creek Advisors LLC now owns 122,479 shares of the company’s stock worth $10,603,000 after acquiring an additional 22,698 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VRT. Bank of America upped their price target on shares of Vertiv from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Evercore ISI reiterated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. TD Cowen increased their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $96.22.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $75.46 on Wednesday. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 72.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average of $80.22 and a two-hundred day moving average of $84.37.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. As a group, analysts predict that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.