APG Asset Management N.V. Boosts Stake in Vertiv Holdings Co (NYSE:VRT)

APG Asset Management N.V. grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 72.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 79,114 shares of the company’s stock after acquiring an additional 33,114 shares during the period. APG Asset Management N.V.’s holdings in Vertiv were worth $6,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRT. Vanguard Group Inc. lifted its position in Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after acquiring an additional 1,766,784 shares in the last quarter. Coatue Management LLC increased its stake in Vertiv by 19.5% in the 4th quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock worth $663,383,000 after buying an additional 2,249,353 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Vertiv by 303.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock worth $390,143,000 after buying an additional 3,591,903 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv in the 2nd quarter worth $331,091,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Vertiv by 85.2% during the first quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock valued at $277,619,000 after purchasing an additional 1,563,466 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Vertiv Stock Performance

Shares of VRT stock opened at $98.41 on Monday. The stock has a market capitalization of $36.84 billion, a PE ratio of 94.63, a P/E/G ratio of 1.26 and a beta of 1.58. The firm has a 50 day moving average of $80.81 and a two-hundred day moving average of $86.43. Vertiv Holdings Co has a 52 week low of $34.60 and a 52 week 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.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. On average, research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, September 17th. 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.