Victory Capital Management Inc. Grows Stake in Vertiv Holdings Co (NYSE:VRT)

Victory Capital Management Inc. grew its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 632,877 shares of the company’s stock after buying an additional 16,462 shares during the period. Victory Capital Management Inc. owned 0.17% of Vertiv worth $30,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRT. FMR LLC lifted its position in shares of Vertiv by 182.4% in the 3rd quarter. FMR LLC now owns 47,236,496 shares of the company’s stock worth $1,757,198,000 after purchasing an additional 30,511,907 shares during the period. Vanguard Group Inc. grew its holdings in shares of Vertiv by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,628,757 shares of the company’s stock worth $1,176,590,000 after acquiring an additional 3,417,710 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Vertiv by 1,032.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,258,888 shares of the company’s stock worth $84,031,000 after acquiring an additional 2,059,431 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Vertiv during the third quarter valued at approximately $69,482,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Vertiv by 2,223.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,801,467 shares of the company’s stock worth $67,015,000 after purchasing an additional 1,723,936 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VRT. Bank of America boosted their target price on shares of Vertiv from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 18th. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on Vertiv from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Mizuho boosted their target price on Vertiv from $56.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Citigroup raised their price target on Vertiv from $102.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.11.

Insider Activity at Vertiv

In other news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertiv news, Director Doherty Philip O’ sold 2,511,295 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the completion of the sale, the director now directly owns 9,324,181 shares of the company’s stock, valued at approximately $873,116,308.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction that occurred on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the sale, the insider now owns 19,452 shares in the company, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,409,664 shares of company stock worth $310,846,212. 5.62% of the stock is owned by corporate insiders.

Vertiv Stock Performance

Shares of VRT stock opened at $94.91 on Wednesday. The firm has a market capitalization of $35.53 billion, a PE ratio of 91.26, a P/E/G ratio of 1.41 and a beta of 1.55. The company has a 50 day moving average price of $80.75 and a 200-day moving average price of $60.37. Vertiv Holdings Co has a 52 week low of $14.68 and a 52 week high of $97.49. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. Vertiv’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that Vertiv Holdings Co will post 2.42 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

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.