Asset Management One Co. Ltd. Trims Holdings in Vertiv Holdings Co (NYSE:VRT)

Asset Management One Co. Ltd. cut its position in shares of Vertiv Holdings Co (NYSE:VRT) by 11.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 128,405 shares of the company’s stock after selling 16,945 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Vertiv were worth $12,775,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VRT. Massachusetts Financial Services Co. MA purchased a new stake in Vertiv in the 2nd quarter worth approximately $331,091,000. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Vanguard Group Inc. increased its stake in Vertiv by 5.5% in the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock valued at $2,745,930,000 after purchasing an additional 1,766,784 shares during the last quarter. Castle Hook Partners LP purchased a new position in Vertiv during the first quarter worth about $135,987,000. Finally, Westfield Capital Management Co. LP boosted its stake in Vertiv by 85.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,399,272 shares of the company’s stock worth $277,619,000 after buying an additional 1,563,466 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Citigroup lifted their price target on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer upped their price objective on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their target price on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI upped their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $122.11.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.01% of the stock is currently owned by insiders.

Vertiv Trading Up 7.1 %

NYSE:VRT opened at $120.42 on Thursday. Vertiv Holdings Co has a 12 month low of $39.48 and a 12 month high of $120.44. The business’s 50-day moving average is $98.93 and its two-hundred day moving average is $91.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. The firm has a market capitalization of $45.20 billion, a PE ratio of 80.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58.

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

Vertiv Dividend Announcement

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

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.