Resona Asset Management Co. Ltd. Raises Position in Vertiv Holdings Co. (NYSE:VRT)

Resona Asset Management Co. Ltd. increased its stake in shares of Vertiv Holdings Co. (NYSE:VRT - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,687 shares of the company's stock after purchasing an additional 6,501 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Vertiv were worth $7,732,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Townsquare Capital LLC increased its position in shares of Vertiv by 23.4% in the fourth quarter. Townsquare Capital LLC now owns 6,160 shares of the company's stock valued at $700,000 after acquiring an additional 1,170 shares during the last quarter. Barclays PLC increased its position in shares of Vertiv by 12.6% in the fourth quarter. Barclays PLC now owns 485,798 shares of the company's stock valued at $55,192,000 after acquiring an additional 54,212 shares during the last quarter. Mariner LLC increased its position in shares of Vertiv by 10.9% in the fourth quarter. Mariner LLC now owns 51,870 shares of the company's stock valued at $5,894,000 after acquiring an additional 5,097 shares during the last quarter. United Capital Financial Advisors LLC increased its position in shares of Vertiv by 54.2% in the fourth quarter. United Capital Financial Advisors LLC now owns 16,434 shares of the company's stock valued at $1,867,000 after acquiring an additional 5,779 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its position in shares of Vertiv by 5.4% in the fourth quarter. Insigneo Advisory Services LLC now owns 5,152 shares of the company's stock valued at $585,000 after acquiring an additional 265 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Vertiv news, EVP Stephen Liang sold 43,683 shares of Vertiv stock in a transaction that occurred 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 of the company's stock, valued at $1,106,292.33. This trade represents a 82.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karsten Winther sold 41,654 shares of Vertiv stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the completion of the transaction, the insider owned 18,848 shares of the company's stock, valued at $2,529,590.08. This represents a 68.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on VRT. JPMorgan Chase & Co. lifted their target price on Vertiv from $127.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Roth Capital boosted their price target on Vertiv from $100.00 to $157.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Mizuho boosted their price target on Vertiv from $125.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. KGI Securities started coverage on Vertiv in a research report on Thursday, April 24th. They set a "hold" rating on the stock. Finally, Bank of America boosted their price target on Vertiv from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vertiv currently has a consensus rating of "Buy" and an average price target of $144.06.

Vertiv Price Performance

NYSE VRT traded up $0.34 on Friday, hitting $132.86. 6,204,076 shares of the company's stock were exchanged, compared to its average volume of 7,781,719. The stock has a 50-day moving average of $128.12 and a 200-day moving average of $105.20. 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 52 week low of $53.60 and a 52 week high of $155.84. The stock has a market cap of $50.74 billion, a price-to-earnings ratio of 63.57, a P/E/G ratio of 1.17 and a beta of 1.77.

Vertiv (NYSE:VRT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.12. Vertiv had a return on equity of 51.64% and a net margin of 8.93%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the company earned $0.67 EPS. Vertiv's revenue was up 35.1% compared to the same quarter last year. Analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a $0.0375 dividend. This represents a yield of 14.0%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's 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.