Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Vertiv Holdings Co (NYSE:VRT) by 79.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,385 shares of the company’s stock after purchasing an additional 23,570 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vertiv were worth $5,311,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in Vertiv in the second quarter worth about $26,000. Atticus Wealth Management LLC acquired a new stake in Vertiv in the 1st quarter valued at about $27,000. Mather Group LLC. lifted its holdings in Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Vertiv in the 3rd quarter valued at about $36,000. Finally, OFI Invest Asset Management acquired a new stake in Vertiv in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VRT shares. Mizuho upped their price target on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI upped their price target on shares of Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Oppenheimer upped their price target on shares of Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, October 14th. 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. Finally, Bank of America upped their price target on shares of Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $112.44.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.01% of the stock is currently owned by company insiders.

Vertiv Price Performance

Shares of VRT opened at $112.25 on Friday. The company has a market capitalization of $42.02 billion, a price-to-earnings ratio of 107.93, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv Holdings Co has a fifty-two week low of $34.60 and a fifty-two week high of $116.19. 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 business’s 50-day moving average is $90.31 and its 200-day moving average is $89.26.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share 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 the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Equities research analysts expect that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. Vertiv’s payout ratio is 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.