Russell Investments Group Ltd. boosted its holdings in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 527,083 shares of the company’s stock after buying an additional 18,824 shares during the quarter. Russell Investments Group Ltd.’s holdings in Vertiv were worth $67,444,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. J.W. Cole Advisors Inc. increased its stake in shares of Vertiv by 26.0% in the second quarter. J.W. Cole Advisors Inc. now owns 14,277 shares of the company’s stock worth $1,833,000 after acquiring an additional 2,945 shares during the period. Richmond Investment Services LLC boosted its holdings in Vertiv by 27.0% in the second quarter. Richmond Investment Services LLC now owns 7,774 shares of the company’s stock valued at $998,000 after purchasing an additional 1,655 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Vertiv by 12.9% in the second quarter. Advisors Asset Management Inc. now owns 16,518 shares of the company’s stock valued at $2,121,000 after purchasing an additional 1,889 shares during the last quarter. Cornerstone Capital Inc. grew its position in Vertiv by 13.7% during the 2nd quarter. Cornerstone Capital Inc. now owns 80,320 shares of the company’s stock worth $10,314,000 after purchasing an additional 9,655 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Vertiv by 228.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 29,087 shares of the company’s stock valued at $3,735,000 after buying an additional 20,225 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Vertiv Stock Performance
VRT opened at $172.36 on Friday. The firm’s fifty day simple moving average is $170.29 and its two-hundred day simple moving average is $140.27. Vertiv Holdings Co. has a 52-week low of $53.60 and a 52-week high of $202.45. The company has a market cap of $65.90 billion, a price-to-earnings ratio of 65.04, a PEG ratio of 1.40 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.83.
Vertiv Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Tuesday, November 25th will be issued a $0.0625 dividend. This is a boost from Vertiv’s previous quarterly dividend of $0.04. This represents a $0.25 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, November 25th. Vertiv’s payout ratio is 9.43%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Vertiv from $150.00 to $206.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada upped their price objective on Vertiv from $191.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Redburn Atlantic raised shares of Vertiv to a “hold” rating in a report on Wednesday, August 20th. The Goldman Sachs Group set a $182.00 target price on shares of Vertiv in a research note on Thursday, October 23rd. Finally, KGI Securities upgraded shares of Vertiv from a “hold” rating to an “outperform” rating in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Vertiv currently has an average rating of “Moderate Buy” and an average price target of $177.81.
Check Out Our Latest Research Report on Vertiv
Insider Buying and Selling
In other news, EVP Stephen Liang sold 5,501 shares of Vertiv stock in a transaction on Monday, November 24th. The stock was sold at an average price of $170.48, for a total transaction of $937,810.48. Following the transaction, the executive vice president owned 4,050 shares in the company, valued at $690,444. The trade was a 57.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jakki L. Haussler sold 15,680 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $123.92, for a total transaction of $1,943,065.60. Following the transaction, the director directly owned 4,631 shares in the company, valued at approximately $573,873.52. The trade was a 77.20% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.63% 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.
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