Payden & Rygel Buys Shares of 66,800 Vertiv Holdings Co (NYSE:VRT)

Payden & Rygel purchased a new position in shares of Vertiv Holdings Co (NYSE:VRT) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 66,800 shares of the company’s stock, valued at approximately $6,646,000.

Several other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised its holdings in Vertiv by 25.1% in the 3rd quarter. ORG Partners LLC now owns 458 shares of the company’s stock valued at $46,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP increased its holdings in Vertiv by 18.6% in the 3rd quarter. Allworth Financial LP now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 100 shares during the period. NBC Securities Inc. boosted its position in shares of Vertiv by 0.9% during the 3rd quarter. NBC Securities Inc. now owns 13,125 shares of the company’s stock valued at $1,305,000 after acquiring an additional 112 shares in the last quarter. Nvwm LLC increased its stake in Vertiv by 1.3% in the third quarter. Nvwm LLC now owns 10,035 shares of the company’s stock valued at $998,000 after acquiring an additional 124 shares during the period. Finally, Callan Family Office LLC raised its position in Vertiv by 0.9% in the third quarter. Callan Family Office LLC now owns 14,989 shares of the company’s stock worth $1,491,000 after purchasing an additional 137 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRT has been the subject of several analyst reports. TD Cowen raised their target price on Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Oppenheimer raised their target price on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI upped their price target on shares of Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vertiv from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $138.50.

Vertiv Price Performance

Shares of VRT opened at $137.56 on Thursday. 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 Holdings Co has a twelve month low of $41.01 and a twelve month high of $141.76. The stock has a market capitalization of $51.63 billion, a P/E ratio of 91.71, a P/E/G ratio of 1.53 and a beta of 1.58. The company has a 50 day moving average of $108.75 and a 200-day moving average of $94.57.

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

Vertiv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be issued a $0.0375 dividend. This is an increase from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, December 3rd. Vertiv’s payout ratio is currently 6.67%.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction on Tuesday, September 3rd. The stock was 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. The trade was a 80.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.01% of the company’s stock.

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.