Vertiv Holdings Co (NYSE:VRT) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co trimmed its position in Vertiv Holdings Co (NYSE:VRT) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,041 shares of the company’s stock after selling 870 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Vertiv were worth $2,168,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Vertiv during the fourth quarter worth approximately $185,339,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Vertiv during the second quarter worth $331,091,000. Price T Rowe Associates Inc. MD grew its position in shares of Vertiv by 303.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,777,057 shares of the company’s stock valued at $390,143,000 after purchasing an additional 3,591,903 shares during the period. Coatue Management LLC increased its stake in Vertiv by 19.5% in the fourth quarter. Coatue Management LLC now owns 13,811,848 shares of the company’s stock valued at $663,383,000 after purchasing an additional 2,249,353 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Vertiv by 5.5% during the first quarter. Vanguard Group Inc. now owns 33,622,257 shares of the company’s stock worth $2,745,930,000 after buying an additional 1,766,784 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on VRT. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $95.00 to $92.00 in a research report on Wednesday, August 7th. Evercore ISI reaffirmed an “outperform” rating and set a $105.00 price target on shares of Vertiv in a research note on Thursday, August 15th. Finally, TD Cowen boosted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $102.13.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.01% of the stock is owned by company insiders.

Vertiv Price Performance

VRT opened at $87.28 on Wednesday. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27. The company has a 50 day moving average of $79.54 and a two-hundred day moving average of $85.02. The company has a market cap of $32.67 billion, a P/E ratio of 83.92, a P/E/G ratio of 1.08 and a beta of 1.58. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping 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 firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect that Vertiv Holdings Co will post 2.58 earnings per share for the current year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 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.