Clal Insurance Enterprises Holdings Ltd Purchases Shares of 327,000 Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Clal Insurance Enterprises has acquired a new stake in Vertiv Holdings Co., purchasing 327,000 shares valued at approximately $23.6 million during the first quarter.
• Multiple institutional investors, including Resona Asset Management and HighTower Advisors, have also increased their stakes in Vertiv, collectively indicating strong interest in the company.
• Analysts maintain a generally positive outlook, with 18 buy ratings, two strong buy ratings, and an average price target of $144.06 for Vertiv stock.

Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 327,000 shares of the company's stock, valued at approximately $23,609,000. Clal Insurance Enterprises Holdings Ltd owned approximately 0.09% of Vertiv at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its position in shares of Vertiv by 6.5% during the first quarter. Resona Asset Management Co. Ltd. now owns 106,687 shares of the company's stock valued at $7,732,000 after buying an additional 6,501 shares during the last quarter. Telligent Fund LP raised its position in shares of Vertiv by 5.0% during the first quarter. Telligent Fund LP now owns 21,000 shares of the company's stock valued at $1,516,000 after buying an additional 1,000 shares during the last quarter. Callan Family Office LLC raised its position in shares of Vertiv by 2.5% during the first quarter. Callan Family Office LLC now owns 12,530 shares of the company's stock valued at $905,000 after buying an additional 303 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Vertiv by 18.3% during the first quarter. HighTower Advisors LLC now owns 50,650 shares of the company's stock valued at $3,657,000 after buying an additional 7,834 shares during the last quarter. Finally, Capital Planning Advisors LLC raised its position in shares of Vertiv by 69.5% during the first quarter. Capital Planning Advisors LLC now owns 19,479 shares of the company's stock valued at $1,406,000 after buying an additional 7,989 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VRT shares. KGI Securities assumed coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. Barclays set a $128.00 target price on shares of Vertiv and gave the company an "equal weight" rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Melius raised shares of Vertiv from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a report on Tuesday, July 8th. Finally, Roth Capital raised their target price on shares of Vertiv from $100.00 to $157.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $144.06.

Insider Activity

In other news, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the completion of the sale, the executive vice president directly owned 9,551 shares of the company's stock, valued at approximately $1,106,292.33. The trade was a 82.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.01% of the company's stock.

Vertiv Price Performance

Vertiv stock opened at $139.77 on Tuesday. The firm has a 50-day moving average price of $126.25 and a 200-day moving average price of $104.31. The firm has a market capitalization of $53.37 billion, a PE ratio of 66.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.77. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93. Vertiv Holdings Co. has a 12-month low of $53.60 and a 12-month high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.12. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The business's revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. As a group, equities research analysts forecast that Vertiv Holdings Co. will post 3.59 EPS for the current year.

Vertiv Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0375 per share. This is an increase from Vertiv's previous dividend of $0.01. This represents a dividend yield of 14.0%. The ex-dividend date of this dividend was Monday, June 16th. Vertiv's payout ratio is presently 7.18%.

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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