Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Vertiv Holdings Co (NYSE:VRT)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Vertiv Holdings Co (NYSE:VRT) by 13.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 849,809 shares of the company’s stock after purchasing an additional 102,042 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vertiv were worth $84,547,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VRT. Anchor Investment Management LLC purchased a new stake in shares of Vertiv during the second quarter worth about $26,000. 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 worth $29,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC purchased a new stake in Vertiv in the 3rd quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new position in shares of Vertiv during the third quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new position in shares of Vertiv during the second quarter valued at approximately $34,000. Institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. 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 report on Thursday, July 25th. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price target for the company. TD Cowen lifted their price objective on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Mizuho raised their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup upped their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten investment 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 $125.40.

Vertiv Stock Performance

Shares of VRT stock opened at $121.07 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.38. The company has a market capitalization of $45.44 billion, a price-to-earnings ratio of 80.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. Vertiv Holdings Co has a one year low of $41.01 and a one year high of $130.30. The company’s 50-day moving average is $103.47 and its 200 day moving average is $93.30.

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

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend yield of 0.08%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is presently 6.67%.

Insider Transactions at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the firm’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 value of $3,593,470.76. Following the sale, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.01% 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.