Sumitomo Mitsui DS Asset Management Company Ltd Takes $1.44 Million Position in Vertiv Holdings Co (NYSE:VRT)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Vertiv Holdings Co (NYSE:VRT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 29,902 shares of the company’s stock, valued at approximately $1,436,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRT. CWM LLC increased its stake in shares of Vertiv by 90.5% during the 3rd quarter. CWM LLC now owns 4,231 shares of the company’s stock worth $157,000 after purchasing an additional 2,010 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Vertiv by 30.0% during the 3rd quarter. Global Retirement Partners LLC now owns 1,588 shares of the company’s stock worth $61,000 after purchasing an additional 366 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $331,000. Exchange Traded Concepts LLC increased its stake in shares of Vertiv by 1.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 121,592 shares of the company’s stock worth $4,523,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Cannon Global Investment Management LLC purchased a new position in shares of Vertiv during the 3rd quarter worth approximately $542,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Oppenheimer initiated coverage on shares of Vertiv in a research note on Friday, April 5th. They set an “outperform” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Mizuho lifted their target price on shares of Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Finally, Evercore ISI lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has an average rating of “Moderate Buy” and a consensus price target of $74.56.

Vertiv Stock Up 6.8 %

Shares of VRT opened at $84.53 on Thursday. Vertiv Holdings Co has a fifty-two week low of $12.22 and a fifty-two week high of $94.39. The company’s fifty day moving average is $75.35 and its two-hundred day moving average is $56.87. The firm has a market cap of $32.29 billion, a PE ratio of 71.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Vertiv Holdings Co will post 2.36 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. Vertiv’s dividend payout ratio is presently 8.47%.

Insider Activity

In related news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Corporate insiders own 5.62% of the company’s stock.

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.