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 acquired a new stake in Vertiv Holdings Co (NYSE:VRT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,902 shares of the company’s stock, valued at approximately $1,436,000.

Several other institutional investors and hedge funds have also modified their holdings of VRT. FMR LLC lifted its holdings in shares of Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock valued at $1,757,198,000 after buying an additional 30,511,907 shares during the period. Vanguard Group Inc. increased its stake in shares of Vertiv by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock valued at $1,176,590,000 after purchasing an additional 3,417,710 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock valued at $84,031,000 after purchasing an additional 2,059,431 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Vertiv in the 3rd quarter valued at about $69,482,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Vertiv by 2,223.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,801,467 shares of the company’s stock valued at $67,015,000 after purchasing an additional 1,723,936 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Transactions at Vertiv

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

Wall Street Analysts Forecast Growth

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

Vertiv Price Performance

NYSE:VRT opened at $84.53 on Thursday. Vertiv Holdings Co has a 12 month low of $12.22 and a 12 month high of $94.39. The stock has a 50 day moving average of $75.35 and a two-hundred day moving average of $56.87. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The firm has a market cap of $32.29 billion, a P/E ratio of 71.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59.

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

Vertiv Announces Dividend

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

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.