abrdn plc Acquires 53,217 Shares of Vertiv Holdings Co (NYSE:VRT)

abrdn plc raised its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 110.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 101,498 shares of the company’s stock after buying an additional 53,217 shares during the quarter. abrdn plc’s holdings in Vertiv were worth $10,098,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Vertiv by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after acquiring an additional 1,766,784 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 3,591,903 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Vertiv in the 2nd quarter worth about $331,091,000. Westfield Capital Management Co. LP lifted its holdings in shares of Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after acquiring an additional 1,563,466 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Vertiv by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,002,197 shares of the company’s stock worth $245,189,000 after acquiring an additional 451,830 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Vertiv Trading Down 2.2 %

NYSE VRT opened at $106.91 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.00 and a current ratio of 1.38. The company has a market capitalization of $40.11 billion, a price-to-earnings ratio of 71.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.59. The company’s 50-day simple moving average is $96.92 and its two-hundred day simple moving average is $91.13. Vertiv Holdings Co has a one year low of $38.68 and a one year high of $116.41.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Equities analysts forecast that Vertiv Holdings Co will post 2.69 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is currently 6.67%.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred 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 transaction, the insider now owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a 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 research analysts recently commented on VRT shares. The Goldman Sachs Group reduced their price target 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. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. Evercore ISI raised their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer raised their price target on shares of Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America raised their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $122.11.

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.