BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $6.02 Million Position in Vertiv Holdings Co (NYSE:VRT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Vertiv Holdings Co (NYSE:VRT) by 60.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,495 shares of the company’s stock after buying an additional 26,231 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Vertiv were worth $6,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Gateway Advisory LLC acquired a new stake in shares of Vertiv during the 2nd quarter valued at about $603,000. Morse Asset Management Inc acquired a new stake in Vertiv in the second quarter valued at approximately $1,094,000. Xponance Inc. grew its position in Vertiv by 101.8% in the second quarter. Xponance Inc. now owns 63,703 shares of the company’s stock worth $5,515,000 after acquiring an additional 32,129 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Vertiv by 41.0% during the 2nd quarter. Bank of Montreal Can now owns 156,531 shares of the company’s stock valued at $14,365,000 after purchasing an additional 45,525 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Vertiv in the 2nd quarter valued at $4,721,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analyst Ratings Changes

VRT has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and issued a $105.00 price objective on shares of Vertiv in a research note on Thursday, August 15th. Mizuho upgraded shares of Vertiv from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Finally, TD Cowen upped their price target on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $102.13.

Insider Transactions at Vertiv

In related 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 sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by insiders.

Vertiv Stock Down 0.1 %

Vertiv stock opened at $100.62 on Friday. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $109.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a market capitalization of $37.75 billion, a price-to-earnings ratio of 96.75, a PEG ratio of 1.26 and a beta of 1.58. The company’s 50 day simple moving average is $80.18 and its 200 day simple moving average is $85.92.

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

Vertiv Dividend Announcement

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

Vertiv 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.