Dai ichi Life Insurance Company Ltd Has $1.26 Million Stake in Vertiv Holdings Co (NYSE:VRT)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of Vertiv Holdings Co (NYSE:VRT) by 75.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,645 shares of the company’s stock after selling 38,278 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Vertiv were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Vertiv by 10,825.0% during the 3rd quarter. Jennison Associates LLC now owns 4,600,415 shares of the company’s stock worth $457,695,000 after purchasing an additional 4,558,306 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Vertiv during the second quarter worth about $331,091,000. Westfield Capital Management Co. LP increased its holdings in shares of Vertiv by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,611,566 shares of the company’s stock worth $359,315,000 after buying an additional 40,696 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Vertiv by 15.4% in the second quarter. Clearbridge Investments LLC now owns 2,553,001 shares of the company’s stock valued at $221,013,000 after acquiring an additional 340,639 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Vertiv by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,524,112 shares of the company’s stock worth $218,512,000 after acquiring an additional 169,700 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Insider Activity at Vertiv

In other news, EVP Stephen Liang sold 86,619 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $131.07, for a total value of $11,353,152.33. Following the completion of the transaction, the executive vice president now owns 19,551 shares of the company’s stock, valued at $2,562,549.57. The trade was a 81.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anand Sanghi sold 30,914 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the sale, the insider now directly owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,451 shares of company stock worth $26,699,153 in the last ninety days. Company insiders own 5.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VRT shares. JPMorgan Chase & Co. raised their price target on Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Oppenheimer lifted their price target on Vertiv from $121.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Bank of America increased their price objective on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on shares of Vertiv from $115.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group assumed coverage on shares of Vertiv in a research note on Wednesday, November 13th. They set a “buy” rating and a $155.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $138.50.

Vertiv Trading Down 3.6 %

Shares of NYSE VRT opened at $126.96 on Thursday. Vertiv Holdings Co has a fifty-two week low of $41.01 and a fifty-two week high of $145.67. The firm has a market capitalization of $47.65 billion, a P/E ratio of 84.64, a P/E/G ratio of 1.36 and a beta of 1.58. 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 company’s 50 day simple moving average is $113.52 and its 200 day simple moving average is $95.89.

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

Vertiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost from Vertiv’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend 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.