93,642 Shares in Vertiv Holdings Co (NYSE:VRT) Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new stake in Vertiv Holdings Co (NYSE:VRT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 93,642 shares of the company’s stock, valued at approximately $7,648,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LBP AM SA acquired a new stake in shares of Vertiv in the 1st quarter valued at $3,699,000. Comerica Bank increased its position in Vertiv by 29.4% in the first quarter. Comerica Bank now owns 436,413 shares of the company’s stock worth $35,642,000 after purchasing an additional 99,269 shares during the period. Redwood Investment Management LLC acquired a new stake in shares of Vertiv during the 1st quarter worth approximately $638,000. California State Teachers Retirement System raised its stake in shares of Vertiv by 5.8% during the first quarter. California State Teachers Retirement System now owns 579,672 shares of the company’s stock worth $47,342,000 after buying an additional 31,839 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its holdings in Vertiv by 156.5% in the first quarter. Meiji Yasuda Life Insurance Co now owns 25,911 shares of the company’s stock valued at $2,116,000 after buying an additional 15,811 shares during the period. Institutional investors own 89.92% of the company’s stock.

Insiders Place Their Bets

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at approximately $1,836,074.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the transaction, the director now directly owns 6,882,859 shares in the company, valued at $752,296,488.70. The disclosure for this sale can be found here. Insiders have sold 1,162,739 shares of company stock valued at $119,773,814 in the last 90 days. 5.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRT. JPMorgan Chase & Co. increased their price target on Vertiv from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Oppenheimer boosted their target price on Vertiv from $96.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI boosted their price objective on shares of Vertiv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Citigroup lifted their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Mizuho upped their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Vertiv Stock Down 5.9 %

Shares of VRT traded down $4.68 during mid-day trading on Thursday, hitting $74.02. 10,453,389 shares of the company’s stock were exchanged, compared to its average volume of 8,713,608. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.98. Vertiv Holdings Co has a 52 week low of $31.57 and a 52 week high of $109.27. The company has a market cap of $27.71 billion, a PE ratio of 71.96, a P/E/G ratio of 0.95 and a beta of 1.58. The company has a 50-day simple moving average of $90.52 and a 200 day simple moving average of $80.54.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Vertiv Holdings Co will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.14%. Vertiv’s dividend payout ratio is 9.62%.

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.