Vertiv Holdings Co (NYSE:VRT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Vertiv Holdings Co (NYSE:VRT) by 430.5% in the third quarter, Holdings Channel.com reports. The firm owned 165,557 shares of the company’s stock after acquiring an additional 134,349 shares during the quarter. Principal Financial Group Inc.’s holdings in Vertiv were worth $16,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in VRT. Clearbridge Investments LLC increased its position in Vertiv by 15.4% during the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock worth $221,013,000 after buying an additional 340,639 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Vertiv by 7.2% during the third quarter. Whittier Trust Co. now owns 127,210 shares of the company’s stock valued at $12,656,000 after acquiring an additional 8,579 shares during the last quarter. Janney Capital Management LLC purchased a new stake in Vertiv during the 3rd quarter worth about $8,403,000. Assenagon Asset Management S.A. raised its stake in Vertiv by 190.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,923 shares of the company’s stock valued at $5,564,000 after purchasing an additional 36,684 shares during the last quarter. Finally, Generate Investment Management Ltd lifted its holdings in Vertiv by 180.8% in the 3rd quarter. Generate Investment Management Ltd now owns 598,372 shares of the company’s stock valued at $59,532,000 after purchasing an additional 385,251 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. This represents a 80.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Vertiv Price Performance

Shares of VRT opened at $120.86 on Friday. The stock has a market cap of $45.36 billion, a P/E ratio of 81.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. Vertiv Holdings Co has a 1 year low of $41.01 and a 1 year high of $130.30. The stock’s 50-day moving average price is $104.39 and its two-hundred day moving average price is $93.49. The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

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

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.025 dividend. 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 dividend payout ratio (DPR) is presently 6.67%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer upped their target price on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho raised their price target on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Citigroup raised their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vertiv has a consensus rating of “Buy” and an average target price of $125.40.

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.