Mitsubishi UFJ Asset Management Co. Ltd. Acquires 36,900 Shares of Vertiv Holdings Co. (NYSE:VRT)

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Vertiv Holdings by 12.1%, owning approximately $24.7 million worth of the stock after purchasing an additional 36,900 shares.
• Vertiv recently reported a 35.1% year-over-year revenue growth, achieving $2.64 billion in revenue, and beat earnings expectations with an EPS of $0.95.
• The company announced a dividend increase to $0.0375 per share, which represents a yield of 14.0%, up from its previous $0.01 dividend.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 12.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 342,344 shares of the company's stock after buying an additional 36,900 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Vertiv worth $24,717,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Ibex Wealth Advisors boosted its holdings in Vertiv by 10.5% during the first quarter. Ibex Wealth Advisors now owns 73,739 shares of the company's stock worth $5,324,000 after buying an additional 6,989 shares during the last quarter. Gallo Partners LP acquired a new stake in shares of Vertiv in the 4th quarter valued at approximately $1,826,000. Viking Fund Management LLC boosted its stake in Vertiv by 123.5% during the 1st quarter. Viking Fund Management LLC now owns 38,000 shares of the company's stock worth $2,744,000 after acquiring an additional 21,000 shares during the last quarter. Outlook Wealth Advisors LLC bought a new position in Vertiv during the 1st quarter worth approximately $475,000. Finally, Maxi Investments CY Ltd increased its stake in Vertiv by 160.3% in the first quarter. Maxi Investments CY Ltd now owns 26,025 shares of the company's stock valued at $1,879,000 after purchasing an additional 16,025 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vertiv

In other news, EVP Stephen Liang sold 43,683 shares of Vertiv 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 transaction, the executive vice president owned 9,551 shares in the company, 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 is accessible through the SEC website. Insiders own 5.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. KGI Securities initiated coverage on shares of Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. Oppenheimer lifted their target price on Vertiv from $140.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their target price on Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Mizuho boosted their target price on Vertiv from $125.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded Vertiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.06.

Vertiv Stock Up 2.9%

Shares of NYSE:VRT traded up $3.99 during trading on Tuesday, hitting $143.82. 6,185,424 shares of the company were exchanged, compared to its average volume of 7,620,705. The stock has a market cap of $54.92 billion, a price-to-earnings ratio of 41.87, a P/E/G ratio of 1.23 and a beta of 1.77. Vertiv Holdings Co. has a fifty-two week low of $53.60 and a fifty-two week high of $155.84. The firm has a fifty day moving average price of $126.25 and a two-hundred day moving average price of $104.31. 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 (NYSE:VRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.12. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.36 billion. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. As a group, research analysts anticipate that Vertiv Holdings Co. will post 3.59 earnings per share for the current fiscal year.

Vertiv Increases Dividend

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

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.