DigitalBridge Group Inc. Has $20.91 Million Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

DigitalBridge Group Inc. trimmed its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 25.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,545 shares of the company’s stock after selling 83,171 shares during the quarter. Vertiv accounts for about 1.8% of DigitalBridge Group Inc.’s portfolio, making the stock its 20th largest position. DigitalBridge Group Inc.’s holdings in Vertiv were worth $20,911,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in Vertiv by 296.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock worth $634,000 after buying an additional 9,870 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Vertiv by 58.8% during the fourth quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock worth $26,312,000 after acquiring an additional 202,766 shares in the last quarter. Williamson Legacy Group LLC purchased a new position in shares of Vertiv during the fourth quarter worth approximately $1,645,000. Swiss National Bank increased its stake in shares of Vertiv by 1.3% in the first quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock worth $88,628,000 after buying an additional 14,100 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Vertiv by 1,019.3% in the first quarter. Acadian Asset Management LLC now owns 4,007 shares of the company’s stock worth $326,000 after buying an additional 3,649 shares during the period. 89.92% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VRT shares. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and issued a $105.00 target price on shares of Vertiv in a research report on Thursday, August 15th. Mizuho raised Vertiv from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $102.13.

Vertiv Trading Up 3.5 %

Shares of NYSE:VRT opened at $100.77 on Thursday. The stock has a 50 day moving average of $80.18 and a 200 day moving average of $85.92. The company has a market cap of $37.80 billion, a PE ratio of 96.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.58. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. Vertiv Holdings Co has a 12-month low of $34.60 and a 12-month high of $109.27.

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

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.10%. Vertiv’s dividend payout ratio is currently 9.62%.

About Vertiv

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.