Sumitomo Mitsui DS Asset Management Company Ltd Has $10.35 Million Holdings in Vertiv Holdings Co (NYSE:VRT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Vertiv Holdings Co (NYSE:VRT) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,055 shares of the company’s stock after purchasing an additional 37,670 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vertiv were worth $10,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRT. Jennison Associates LLC lifted its holdings in Vertiv by 68.6% in the fourth quarter. Jennison Associates LLC now owns 7,754,347 shares of the company’s stock valued at $880,971,000 after buying an additional 3,153,932 shares during the period. State Street Corp raised its position in shares of Vertiv by 4.2% in the 3rd quarter. State Street Corp now owns 7,635,081 shares of the company’s stock worth $759,614,000 after acquiring an additional 308,704 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Vertiv by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,951,784 shares of the company’s stock valued at $592,433,000 after purchasing an additional 408,054 shares during the period. Wellington Management Group LLP boosted its position in shares of Vertiv by 271.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,915,446 shares of the company’s stock valued at $389,548,000 after purchasing an additional 2,860,181 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after purchasing an additional 40,696 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VRT shares. Fox Advisors assumed coverage on Vertiv in a research note on Monday, January 6th. They issued an “equal weight” rating on the stock. Barclays initiated coverage on shares of Vertiv in a research note on Thursday, December 12th. They set an “equal weight” rating and a $142.00 target price on the stock. Melius Research restated a “hold” rating and issued a $125.00 price target on shares of Vertiv in a report on Tuesday, January 28th. Citigroup increased their price objective on shares of Vertiv from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Mizuho upped their price target on Vertiv from $125.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Vertiv presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Vertiv Stock Up 1.6 %

Shares of NYSE:VRT opened at $121.42 on Friday. The business’s 50 day moving average is $124.52 and its 200 day moving average is $106.87. Vertiv Holdings Co has a 12-month low of $55.00 and a 12-month high of $155.84. The stock has a market cap of $45.57 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 0.92 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. This is an increase from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Insider Transactions at Vertiv

In other news, insider Anand Sanghi sold 30,914 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the transaction, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Liang sold 86,619 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the sale, the executive vice president now directly owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 in the last quarter. 5.01% of the stock is currently owned by corporate insiders.

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.