Vertiv Holdings Co (NYSE:VRT) Holdings Cut by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 75.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,645 shares of the company’s stock after selling 38,278 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Vertiv were worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bayesian Capital Management LP purchased a new position in Vertiv in the first quarter valued at about $456,000. Jacobs Levy Equity Management Inc. acquired a new position in Vertiv in the first quarter worth approximately $3,018,000. LRI Investments LLC bought a new position in Vertiv during the first quarter valued at approximately $48,000. Swedbank AB acquired a new stake in Vertiv in the first quarter valued at approximately $15,852,000. Finally, Cetera Investment Advisers lifted its stake in Vertiv by 513.6% in the first quarter. Cetera Investment Advisers now owns 57,311 shares of the company’s stock valued at $4,681,000 after acquiring an additional 47,971 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Citigroup increased their target price on shares of Vertiv from $134.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Mizuho raised their target price on Vertiv from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Bank of America upped their price target on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $138.50.

Insider Activity at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 approximately $843,254.58. The trade was a 80.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the completion of the transaction, the director now directly owns 3,425 shares of the company’s stock, valued at approximately $470,526.50. This trade represents a 81.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock worth $26,699,153 over the last three months. Company insiders own 5.01% of the company’s stock.

Vertiv Stock Performance

VRT opened at $126.96 on Thursday. Vertiv Holdings Co has a 12-month low of $41.01 and a 12-month high of $145.67. The firm has a market capitalization of $47.65 billion, a P/E ratio of 84.64, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. The stock’s 50 day moving average price is $113.52 and its two-hundred day moving average price is $95.89. 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 (NYSE:VRT) last announced its earnings results 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. 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 quarter in the previous year, the firm posted $0.52 earnings per share. Vertiv’s revenue was up 19.0% compared to the same quarter last year. On average, equities analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

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.