Asahi Life Asset Management CO. LTD. Purchases 230 Shares of Vertiv Holdings Co (NYSE:VRT)

Asahi Life Asset Management CO. LTD. boosted its position in Vertiv Holdings Co (NYSE:VRT) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,190 shares of the company’s stock after purchasing an additional 230 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Vertiv were worth $417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in shares of Vertiv by 76.6% in the first quarter. Diversified Trust Co now owns 8,145 shares of the company’s stock valued at $665,000 after acquiring an additional 3,532 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Vertiv by 66.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 500 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Deepwater Asset Management LLC bought a new position in shares of Vertiv during the first quarter worth approximately $1,592,000. SeaCrest Wealth Management LLC raised its position in shares of Vertiv by 46.2% in the first quarter. SeaCrest Wealth Management LLC now owns 11,999 shares of the company’s stock valued at $980,000 after buying an additional 3,793 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Vertiv by 13.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,087 shares of the company’s stock valued at $65,751,000 after buying an additional 98,022 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction 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 completion of the sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.01% of the stock is currently owned by insiders.

Vertiv Trading Up 1.4 %

NYSE VRT traded up $1.53 on Monday, reaching $113.70. The company had a trading volume of 1,279,172 shares, compared to its average volume of 8,342,842. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 88.88, a P/E/G ratio of 1.47 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv Holdings Co has a fifty-two week low of $36.40 and a fifty-two week high of $116.41. The business has a 50 day moving average of $93.57 and a two-hundred day moving average of $90.26.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. 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 7.81%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VRT. Citigroup lifted their price objective on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group cut their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Bank of America raised their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen upped their price target on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Evercore ISI increased their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv currently has a consensus rating of “Buy” and a consensus price target of $122.11.

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.